THELOGICALINDIAN - DBS Southeast Asias better coffer has launched its aboriginal aegis badge alms STO on its cryptocurrency barter The DBS Digital Bond is priced at 15 actor Singapore dollars We apprehend asset tokenization to added become added boilerplate said a DBS executive
DBS’ First Security Token Offering
DBS appear Monday its aboriginal aegis badge alms (STO) on the DBS Digital Exchange (Ddex). The DBS Digital Bond, priced at 15 actor Singapore dollars (US$11.37 million), comes with a six-month tenor and advertisement amount of 0.60% per annum. It is offered as a clandestine adjustment and DBS is the sole bookrunner for the transaction. The coffer detailed:
Clifford Lee, Global Head of Fixed Income at DBS, said that “this marks the aboriginal of abounding accomplish in the adventure to advance the acceptable band arising into a broader agenda ecosystem area added across-the-board issuer and broker accord can be rapidly developed.”
Lee continued: “While best band tokenization contest appear in Asia to date tend to be repackaged forms of a accepted band issue, the accepted transaction anon combines absolute acknowledged and tax basement requirements with a absolute arising on the agenda barter in abate lot sizes.” The controlling added:
Eng-Kwok Seat Moey, Group Head of Capital Markets at DBS, commented: “Our beginning STO advertisement on the DBS Agenda Exchange is a cogent anniversary … This cements our adeptness to accommodate chip solutions beyond the agenda asset amount chain, from accord alpha to tokenization, listing, trading, and custody, which in about-face opens the aperture for added STOs on Ddex.” He emphasized:
The DBS Digital Exchange was launched in December aftermost year. It offers “exchange casework amid four authorization currencies (SGD, USD, HKD, JPY)” and four “cryptocurrencies, namely bitcoin, ether, bitcoin cash, and XRP,” its website explains.
The coffer disclosed in its first-quarter balance alarm that its crypto barter “enjoyed able bazaar absorption back its launch.” Specifically, its “Daily trading volumes accept added 10-fold from the antecedent anniversary of launch, and the barter currently serves over 120 participants. DBS additionally holds over SGD 80 actor in agenda assets in its careful service,” the coffer revealed. In May, the coffer launched a assurance account for cryptocurrencies.
What do you anticipate about DBS arising aegis badge offerings? Let us apperceive in the comments area below.
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