• Sun, 08 Dec 2019, 05:59 AM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

HSBC, SGX, Temasek explore DLT for end-to-end digitalization of fixed income securities

Source: HSBC

Wed, 13 Nov 2019, 12:16 pm UTC

HSBC Singapore is teaming up with Singapore Exchange (SGX) and Temasek for a trial that aims to look into the use of distributed ledger technology (DLT) for end-to-end digitalization of fixed income securities.

Asia’s fixed income markets are growing at a rapid rate. However, the existing bond issuance and servicing processes are inefficient due to the lack of a single platform that facilitates the exchange of information between multiple parties and tracking of a bond throughout its lifecycle.

The DLT trial aims to address this challenge and explore the tech’s use, particularly in the Asia bond markets.

According to a press release, using tokenised securities and smart contracts over a permissioned ledger, the trial will seek to streamline various workflows, including the issuance and servicing of fixed income securities, and reduce process friction, lowering costs for issuers, investors, bond arrangers and custodians.

“As Asia’s largest listing venue for bond issuers globally, we are excited to collaborate on a new operating model that could potentially bring cost savings to issuers, arrangers and investors. Having HSBC and Temasek on board will enable us to evaluate holistically whether smart contracts and DLT can solve some of the long-standing challenges in the fixed income issuance ecosystem,” Lee Beng Hong, Head of Fixed Income, Currencies & Commodities at SGX, said.

Temasek is also involved in another blockchain project which is being spearheaded by the Monetary Authority of Singapore (MAS). The collaborating members, which also include J.P. Morgan, have developed a blockchain-based prototype for multi-currency payments. The prototype is currently being tested to determine its ability to integrate with commercial blockchain applications.

HSBC itself has been actively involved in a number of blockchain projects including the European blockchain trade platform we.trade; Voltron; and many others.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $7,502.95 (-0.87%)
  • Ethereum (ETH) $148.73 (-0.58%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $212.05 (-1.36%)
  • Litecoin (LTC) $45.71 (-0.57%)
  • Bitcoin (BTC) $7,502.95 (-0.87%)
Dec 6, 2019 (Friday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: LTC/USD extends sideways, finds strong support at 42.45 (Trendline)
South Korean consortium to provide blockchain-based ID services via mobile app in 2020
Crypto Technicals: BCH/USD intraday bias turns slightly bullish, scope for test of 20-DMA (220.99)
Bitfury launches enterprise blockchain platform ‘Exonum Enterprise’
CULedger reveals an EFT payment solution for credit unions in collaboration with R3, Luxoft
Reserve Bank of India governor against the development of private digital currencies
Ripple asks court to dismiss XRP securities lawsuit in latest filing ahead of court meeting
Crypto Technicals: ETH/USD struggles to extend recovery, finds stiff resistance at 200H MA at 149.77
Blockchain firm Figure Technologies hits $1.2B valuation after closing $103M Series C round
Blockchain firm ChromaWay acquires Antler Interactive after setting up its gaming arm Chroma Studios
Galaxy Digital-backed Flipside Crypto hires Accenture Managing Director Matt Bridges as COO
Crypto Technicals: BTC/USD rangebound in the Asian session, struggles at 200H MA
Canadian mining firm goes belly up; Owes local, federal government hundreds of thousands
New crypto derivatives trading platform Phemex can manage 300,000 TPS, says core developer
Microsoft creates blockchain-based incentive scheme with Enjin to recognize active members of Azure community
Dec 5, 2019 (Thursday)
Dunamu’s crypto subsidiary DXM partners with Ledger to launch custody service for institutional clients
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.