Singapore DBS Bank Launches 'DBS Token Services' Aimed at Providing Blockchain-Based Banking Solutions for Institutional Clients

On October 18, The Block reported that Singapore's largest bank, DBS, has launched a new set of services called “DBS Token Services,” designed to provide blockchain-based banking solutions for institutional clients. The service integrates tokenization and smart contract capabilities with DBS's existing banking services to help companies optimize liquidity management and streamline operational processes.

DBS said the service is based on a licensed blockchain compatible with the Ethernet virtual machine, integrating the core payment engine and multiple industry payment infrastructures. The new service includes Treasury Tokens, Conditional Payments and Programmable Rewards. “Programmable Rewards. Through smart contracts, institutions will be able to manage the use of funds more flexibly.

In August, DBS launched a blockchain-powered treasury token pilot program with Ant International.