Singapore Exchange to streamline trading processes with blockchain tech

Following a successful trial of DLT-based bond issues, SGX has formed a dedicated company with investment firm Temasek to extend and expand the use of the tech.

The use of distributed ledger technology can bring efficiencies to many aspects of the lifecycle of financial products, from listing and issuing through to the settlement of trades.

Singapore Exchange, or SGX, has announced a joint venture with investment firm Temasek to use DLT to streamline the issuance and trading of financial products listed on its platform.

According to a Friday report from Nikkei Asia, this will initially consider bonds, funds and sustainable financial products, and it may be extended in the future to cover other asset classes such as equities.

SGX has previously collaborated with Temasek and banking giant HSBC in a trial using blockchain technology to issue fixed-income securities. The first results of this trial came in September 2020, with a $300-million bond issuance for local food and agribusiness company Olam International.

This was followed by a further three fixed-income bonds issued through the system, totalling over 1 billion Singapore dollars ($750 million) in value.

Today’s announcement formalizes the partnership in the creation of a limited company while extending and expanding the range of the previous trial. Lee Beng Hong — SGX’s head of fixed income, currencies and commodities — commented on the venture:“We are very excited to take our digital asset business to the next level in partnership with Temasek.”

You might be interested in …

BTC price eyes 30% correction: 5 things to watch in Bitcoin this week


A strengthening dollar combines with profit-taking by miners to create a “short-term bearish” environment for Bitcoin. Bitcoin (BTC) heads into a new week after another weekend of major volatility — but this time, the way was down, not up.  As the market loses $7,000 — the most since the “vertical” price rises began — Cointelegraph […]

Read More

Facebook’s Libra Crypto Gets Ready to Launch in January as a Single Coin


Facebook’s libra cryptocurrency is reportedly preparing to launch with a single cryptocurrency, a scaled-down version of its original plan. The launch date for Facebook’s libra could be as early as January. Launch Date for Facebook’s Libra The cryptocurrency libra, proposed by social media giant Facebook, is reportedly preparing to launch as early as January next […]

Read More

BTC nerves, XRP bombshell, Libra rebrand: Hodler’s Digest, Nov. 28–Dec. 5


The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — one week on Cointelegraph in one link! Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much […]

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *