DBS Bank on Friday introduced DBS Token Services, a new banking solution that integrates tokenization and smart contract features into its existing services.
The bank said it has integrated its Ethereum Virtual Machine (EVM)-compatible permissioned blockchain with its core payment engine and various industry payment systems, enabling instant, 24/7 real-time settlements.
This approach addresses common challenges like data security and regulatory compliance often faced when integrating blockchain into traditional banking.
Further, DBS said it maintains full control and ensures compliance through using a permissioned blockchain.
DBS Expands Digital Offerings with Blockchain-Driven Treasury Tokens and Payments
The new suite includes Treasury Tokens, Conditional Payments and Programmable Rewards. These offerings result from extensive collaboration and experimentation with digital money innovations. They showcase how financial institutions can leverage blockchain and smart contracts to enhance client experiences.
By offering tokenization and smart contract capabilities, the bank enables clients to optimize liquidity management and streamline operations.
Also, the bank said it aims to help companies and public sector entities shift to on-demand digital services.
DBS Targets Institutional Growth with Blockchain Liquidity Solutions
