Token

JUST

Bank

Worldcoin

<p class="is-style-lead">DBS Bank has introduced DBS Token Services, a new blockchain-based offering designed to streamline institutional banking processes.&nbsp;</p>
<p>The DBS Token Services will integrate the bank’s Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) Virtual Machine-compatible permissioned blockchain, its core payment engine, and multiple industry payment infrastructures, according to a press release from DBS.</p>
<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/worldcoin-rebrands-to-world-debuts-layer-2-network-and-new-features/"> Worldcoin rebrands to ‘World,’ debuts layer-2 network and new features </a></p>
<h2 class="wp-block-heading" id="real-time-payments-via-the-blockchain">Real-time payments via the blockchain</h2>
<p>Smart contracts enable institutions to program the governance of funds, including Treasury Tokens, Conditional Payments, and Programmable Rewards. This switch will allow real-time payment settlements using a permissioned blockchain, a system where only authorized participants can interact.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">JUST IN: 🇸🇬 Singapore's largest bank DBS launches token services to enable blockchain-based banking.</p>— Watcher.Guru (@WatcherGuru) <a href="https://twitter.com/WatcherGuru/status/1847247069527822421?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 18, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>For those unfamiliar with the technology, tokenization in finance <a rel="noopener noreferrer nofollow" href="https://crypto.news/what-is-tokenization-and-how-does-it-work/">refers</a> to turning assets into digital tokens that can be traded or managed more efficiently. Smart contracts are self-executing agreements that automatically enforce the terms of a contract, adding security and transparency to transactions.&nbsp;</p>
<p>By doing this, DBS aims to provide a more efficient and secure banking experience for institutions.</p>
<p>This launch follows DBS’s previous blockchain experiments, including a treasury token pilot and <a rel="noopener noreferrer nofollow" href="https://crypto.news/dbs-unveils-blockchain-solution-for-streamlined-government-grant-disbursement/">blockchain-based</a> government grants.&nbsp;</p>
<p>The bank is <a rel="noopener noreferrer nofollow" href="https://crypto.news/singapores-dbs-to-launch-otc-crypto-options-for-institutional-investors/">also expanding</a> into crypto options trading, signaling its broader commitment to blockchain and digital assets.</p>
<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/telegram-gaming-sees-nft-and-user-engagement-boom-in-q3-2024-report/"> Telegram gaming sees NFT and user engagement boom in Q3 2024: report </a></p>

DBS Bank rolls out new ‘Token Services’ for blockchain banking

Table of Contents

crypto.news

Other articles published on Oct 18, 2024

Bora Price Prediction 2024 – 2030: BORA Price To 2X This Q4?

New͏ Cry͏ptocurrency Re͏l͏eas͏es,͏ Listin͏g͏s, & Pre͏sal͏e͏s͏ Tod͏ay – Deep W͏ha͏les AI, Hedg͏efi͏, ͏Peace Co͏in

Worldcoin Rebrands as "World," Expanding Partnerships and Biometric Technology

MetaWin Integrates $DYDX, Launches New Prize Draw with 5,000 DYDX Tokens for Eligible Participants

Fake Coinbase Website’s Mastermind Sentenced to 60 Months in Prison

SHIB Exec Reveals Upcoming Groundbreaking Changes to Shiba Inu Ecosystem

Join our free newsletter for daily crypto updates!