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.
More
  • Bitcoin (BTC) $8,738.56 (+0.74%)
  • Ethereum (ETH) $169.20 (+1.14%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $342.35 (-0.77%)
  • Bitcoin SV (BSV) $316.14 (+3.55%)
  • Bitcoin (BTC) $8,738.56 (+0.74%)
Jan 21, 2020 (Tuesday)
12:25
Brave New Coin announces ‘Twitter Sentiment’ data for bitcoin
11:30
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:30
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:23
Monerium to issue its programmable e-money on Algorand blockchain
10:39
Emurgo establishes blockchain task force with Uzbekistan
10:35
Crypto Technicals: XRP/USD pauses at 23.6% Fib, break above daily cloud to see further gains
10:20
Canadian government taps Mavennet for blockchain-based steel tracking platform
09:31
Venezuelan President Nicolas Maduro approves crypto-run casino
09:05
ASIC gives micro-investment app Raiz a go signal for Bitcoin fund
07:43
Indian IT minister asks NIC for blockchain-based solution to improve public schools
07:29
Bank of Lithuania to issue blockchain-based digital collector coins
06:41
Crypto Technicals: LTC/USD extends rangebound trade, upside capped at 5-DMA (58.48)
06:15
UK revenue and customs agency wants to track crypto-asset transactions
05:17
Crypto Technicals: ETH/USD bounces off 200H MA support, 'Dragonfly Doji' raises scope for upside resumption
05:16
MUFG executes first letter of credit transaction on komgo blockchain platform
04:35
Crypto Technicals: BTC/USD rangebound around 200H MA, retrace below channel top could drag the pair lower
03:56
Thai SEC grants license to crypto-fiat trading platform Zipmex
03:36
Binance P2P platform now supports Vietnamese Dong (VND)
Jan 17, 2020 (Friday)
13:42
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:42
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.
PUBLISHsoft