Token

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<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>
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   <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>
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<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

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