Singapore's DBS Bank has announced the launch of new tokenized banking services aimed at enhancing liquidity management and streamlining business processes for corporate clients.

DBS Token Services

DBS Token Services will enable real-time payment settlements using a permissioned blockchain compatible with the Ethereum Virtual Machine (EVM). This system allows customers to make faster and more efficient payments by integrating with DBS's core payment engine and multiple industry payment networks.

Permissioned Blockchain for Business

Unlike open blockchains, permissioned blockchains allow the creator more control over who can access or interact with the network, making them suitable for use in business and governmental structures. DBS states that this setup allows the bank to leverage the benefits of blockchain technology while adhering to strict compliance standards.

Benefits for Customers

Highlighting the importance of tokenized solutions, Lim Soon Chong noted that they will help optimize liquidity, streamline operations, and unlock new opportunities for customer engagement.

The launch of DBS Bank's new tokenized services promises to expand business flexibility and enhance the quality of financial operations for corporate clients, offering numerous benefits through the integration of modern technologies.