PANews reported on October 18 that according to The Block, Singapore's largest bank DBS (DBS Bank) has launched a new service called "DBS Token Services" to provide institutional clients with blockchain-based banking solutions. The service integrates tokenization and smart contract functions and combines with DBS's existing banking services to help companies optimize liquidity management and simplify operational processes.
DBS said that the service is based on a permissioned blockchain compatible with the Ethereum virtual machine, integrating a core payment engine and a variety of industry payment infrastructures. New services include "Treasury Tokens", "Conditional Payments" and "Programmable Rewards". Through smart contracts, institutions can manage the use of funds more flexibly.
Earlier in August, DBS Bank had partnered with Ant International to launch a blockchain-powered treasury token pilot project.
