important notes
- This framework creates interoperability standards and allows banks to instantly issue and move blockchain-based deposit representations.
- Tokenized deposits enable the programmability and settlement speed of blockchain technology while maintaining full regulatory oversight.
- Last month, DBS completed its first interbank crypto options transaction involving Bitcoin and Ethereum with Goldman Sachs.
DBS, Singapore’s largest bank, has collaborated with JPMorgan’s Kinexys division to design a framework that enables real-time interbank transfers of tokenized deposits across multiple blockchains. This initiative represents an important step towards the convergence of traditional finance and decentralized payment architectures.
According to local reports, the new framework will streamline the movement of liquidity between financial institutions, reduce settlement times from days to seconds, and reduce operational risks in cross-border transactions. The system leverages Kinexys’ cross-chain infrastructure to enable interaction between permissioned and public blockchains without compromising compliance or data privacy.
The partnership focuses on creating interoperability standards that will enable banks to issue, move, and redeem blockchain-based representations of customer deposits in real time.
“As the digital asset ecosystem continues to grow, interoperability remains a key element in reducing fragmentation and enabling the full value of tokenized money to be transferred securely across borders,” said Rachel Chu, Group Chief Operating Officer and Head of Digital Currency, Global Transaction Services, DBS Bank.
Tokenized deposits differ from stablecoins in that they are fully backed by bank-held funds and maintain regulatory oversight while offering the programmability and instant settlement benefits of blockchain technology.
DBS expands blockchain integration efforts
The partnership follows DBS’s continued efforts to integrate blockchain-based products into institutional finance.
Last month, DBS and Goldman Sachs conducted the first-ever interbank crypto options transaction, a cash-settled over-the-counter transaction involving Bitcoin.
BTC
103 155 dollars
24 hour volatility:
2.5%
Market capitalization:
$2.06 trillion
Vol. 24 hours:
7.139 billion dollars
and ether
Ethereum
$3,452
24 hour volatility:
3.3%
Market capitalization:
41.712 billion dollars
Vol. 24 hours:
$34.89B
option. In the announcement, Goldman Sachs’ Asia-Pacific head of digital assets, Max Minton, expressed hope for further involvement from institutional investors in the coming months.
SUBBD presale exceeds $1.3 million
As major institutions such as JPMorgan and DBS move forward with asset tokenization efforts, early-stage projects such as SUBBD continue to attract investor attention.
SUBBD is an AI-driven project with creator monetization tools for influencers and brands.
SUBBD presale has exceeded $1.3 million of the $1.5 million target, and the token price is currently $0.057. With less than 24 hours until the next price point, early investors can visit the official SUBBD presale site to access up to 20% staking rewards and other community incentives.
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information but should not be taken as financial or investment advice. Market conditions can change rapidly, so we recommend that you verify the information yourself and consult a professional before making any decisions based on this content.
Ibrahim Ajibade is an experienced research analyst with a background supporting various Web3 startups and financial institutions. He holds a Bachelor’s degree in Economics and is currently studying for a Master’s degree in Blockchain and Distributed Ledger Technology at the University of Malta.
Ibrahim Ajibade on LinkedIn