{"id":96924,"date":"2024-10-19T13:55:10","date_gmt":"2024-10-19T17:55:10","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=96924"},"modified":"2024-10-19T13:56:28","modified_gmt":"2024-10-19T17:56:28","slug":"dbs-bank-rolls-out-new-token-services-for-blockchain-banking","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/dbs-bank-rolls-out-new-token-services-for-blockchain-banking\/","title":{"rendered":"DBS Bank Rolls out New Token Services for Blockchain Banking"},"content":{"rendered":"\n

A new blockchain-based service called DBS Token Services has been unveiled by DBS Bank with the goal of streamlining institutional banking procedures<\/a>.<\/p>\n\n\n\n

\"DBS
DBS Bank Rolls out New Token Services for Blockchain Banking<\/figcaption><\/figure>\n\n\n\n

According to a DBS press release, the DBS Token Services will connect the bank's permissioned blockchain, which is compatible with the Ethereum Virtual Machine\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, its core payment engine, and many industry payment infrastructures.\u00a0<\/p>\n\n\n\n

Real-time payments via blockchain<\/h2>\n\n\n\n

Institutions can program the governance of funds, such as Treasury Tokens<\/a>, Conditional Payments, and Programmable Rewards, thanks to smart contracts. <\/p>\n\n\n\n

Through the use of a permissioned blockchain\u2014a system in which only authorized users may communicate\u2014this move will enable real-time payment settlements.\u00a0<\/p>\n\n\n\n

\n

JUST IN: \ud83c\uddf8\ud83c\uddec Singapore's largest bank DBS launches token services to enable blockchain-based banking.<\/p>— Watcher.Guru (@WatcherGuru) October 18, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

Tokenization, for those not aware with the technology, is the process of converting assets into digital tokens<\/a> that may be exchanged or handled more effectively in the banking industry. <\/p>\n\n\n\n

Smart contracts are self-executing contracts that increase transaction security and transparency by automatically enforcing their terms. <\/p>\n\n\n\n

DBS hopes to give institutions a more effective and safe banking experience by taking this action. This launch comes after DBS's earlier blockchain initiatives<\/a>, such as government awards based on blockchain technology and a pilot program for treasury tokens. <\/p>\n\n\n\n

The bank is demonstrating its wider commitment to blockchain and digital assets by branching out into the trading of cryptocurrency options.<\/p>\n","protected":false},"excerpt":{"rendered":"

A new blockchain-based service called DBS Token Services has been unveiled by DBS Bank with the goal of streamlining institutional banking procedures. According to a DBS press release, the DBS Token Services will connect the bank’s permissioned blockchain, which is compatible with the Ethereum Virtual Machine , its core payment engine, and many industry payment […]<\/p>\n","protected":false},"author":43,"featured_media":96926,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[7199,202,22420],"class_list":["post-96924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-dbs-bank","tag-blockchain","tag-token-services"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/10\/croc_1729358773237.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/96924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=96924"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/96924\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/96926"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=96924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=96924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=96924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}