DBS, Southeast Asia’s largest bank based in Singapore, issued a bond on the blockchain worth $11.3 million for its upcoming security token offering.
Head of capital markets at DBS Eng-Kwok Seat Moey, shared that the Blockchain bond is a move towards blockchain adoption.
The multinational Bank expects that asset tokenisation will gain more mainstream adoption as more clients participate in security token issuance as a way to raise capital.
In ancient China, small golden or silver ingots were used as currency.
Its weight in taels — a weight measurement unit in regions of East and Southeast Asia — determined its value.
Now, bitcoin — which has broken its all-time high record yet again, is exceeding US$56,000 in price and US$1 trillion in market value, at the time of publishing — is emerging as modern-day “gold 2.0” — especially in Singapore.
But Singapore’s approach toward cryptocurrency has been markedly different from its regional neighbors in talk as well as in its actions.