Singapore's DBS Bank Starts New Suite of Tokenized Banking Services for Institutional Clients
DBS Bank has launched DBS Token Services, offering a suite of banking services that integrate tokenization and smart contract capabilities for institutional clients. The services enable instant, real-time payment settlement using a permissioned blockchain compatible with Ethereum Virtual Machine. This approach allows DBS to leverage blockchain technology while maintaining compliance standards. The new services aim to optimize liquidity management, streamline workflows, and enhance customer engagement. DBS has previously piloted Treasury Tokens for liquidity management and explored conditional payments with Enterprise Singapore. Future plans include using smart contracts for digital voucher programs linked to green initiatives in collaboration with the Hong Kong Monetary Authority.
