Blockchain

UBS, SBI, and DBS Pioneer World’s First Blockchain-based Repo Transaction

UBS, SBI, and DBS have successfully completed the world’s first live repurchase transaction (repo) using a digitally issued bond on a public blockchain. This development represents a step forward in integrating blockchain technology into mainstream financial practices. The groundbreaking transaction,

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Project DESFT to Empower MSMEs in Global Trade with Blockchain-Based Credentials

At the Singapore Fintech Festival 2023 (SFF 2023), the Solv Foundation announced the launch of Project DESFT, a blockchain-based digital credential platform. The initiative is a joint effort with the Monetary Authority of Singapore (MAS) and the Bank of Ghana

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HSBC and Metaco to Offer Digital Assets Custody Service for Institutional Clients

HSBC is set to introduce a new custody service for managing digital assets like tokenised securities, aimed at its institutional clients. This service is expected to start in 2024 and will work alongside HSBC‘s existing digital platforms, including Orion for

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Japan’s SBI and UBS Complete Tokenised Fund Pilot

SBI Digital Markets, the digital asset arm of Japanese conglomerate SBI Group, and UBS Asset Management have completed a technical pilot for the issuance and distribution of a tokenised Variable Capital Company (VCC) fund. This is a part of the

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Singapore, China, & Cambodia Lead the Pack in CBDC Development

In Asia, central banks and monetary authorities are rushing to develop and deploy central bank digital currencies (CBDCs), a technology that they believe is central to their transition to a digital economy, a new report by the Asian Development Bank

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UBS Asset Management Launches First Blockchain-Native Tokenized VCC Fund Pilot in Singapore

UBS Asset Management has launched its first live pilot of a tokenized Variable Capital Company (VCC) fund. The fund is part of a wider VCC umbrella designed to bring various “real world assets” on-chain as part of Project Guardian, a

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Coinbase Singapore Receives Major Payment Institution Licence from MAS

Coinbase Singapore has been granted a Major Payment Institution (MPI) licence by the Monetary Authority of Singapore (MAS). This follows its initial In Principle Approval and facilitates an extended offering of Digital Payment Token services in Singapore. Singapore’s growing role

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BIS, France, Singapore, and Switzerland Report Success in Cross-Border Wholesale CBDCs Test

The Bank for International Settlements (BIS), in collaboration with the central banks of France, Singapore, and Switzerland, have concluded “Project Mariana“. This project examined the cross-border trading and settlement of wholesale central bank digital currencies (wCBDCs) using state-of-the-art decentralized finance

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ADDX Set to Expand Private Market Exchange Platform to MENA Region

ADDX, a Singapore-based private market exchange platform, is planning to expand its operations to the Middle East and North Africa (MENA) region. Through this expansion, ADDX will be able to expand access to capital for pre-IPO companies from financial institutions

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Grab Integrates Web3.0 Services, Allows Singapore Users to Set Up Wallets

Southeast Asian ride-hailing super app Grab has integrated Web3.0 services into its platform, allowing users to set up Web3.0 wallets, participate in blockchain rewards programmes, and even make payments using NFTs, according to crypto journalist Wu Blockchain. Grab has yet

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