DBS Unveils Blockchain-Powered Token Services to Transform Institutional Banking
Singapore’s largest bank, DBS, has introduced DBS Token Services, a comprehensive suite of blockchain-enabled banking solutions designed to revolutionize institutional banking through 24/7 real-time settlements and programmable finance capabilities.
The new offering integrates DBS’s Ethereum Virtual Machine (EVM)-compatible permissioned blockchain with its core payment engine and existing payment infrastructures, enabling three key functionalities: Treasury Tokens, Conditional Payments, and Programmable Rewards.
“By leveraging tokenization and smart contract capabilities, DBS Token Services enables companies and public sector entities to optimize liquidity management, streamline operational workflows, strengthen business resilience, and unlock new opportunities for end-customer or end-user engagement,” said Lim Soon Chong, Group Head of Global Transaction Services at DBS Bank.
The bank has already launched a pilot program with Ant International implementing Treasury Tokens, allowing for instant 24/7 cross-border intra-group transfers. This solution addresses traditional treasury frictions by eliminating constraints related to currency cut-off timings and non-banking hours.
Building on its recent pilot with Enterprise Singapore, DBS demonstrated the potential of Conditional Payments by successfully automating government grant disbursements to 27 fintech firms using smart contracts. This implementation showcases enhanced governance control and automated payment workflows based on predefined conditions.
DBS is also exploring Programmable Rewards through its participation in Hong Kong’s e-HKD+ trials. The initiative aims to promote sustainable practices by enabling companies to distribute ESG rewards points that can be redeemed for green products at designated merchants.
The launch of DBS Token Services represents the culmination of the bank’s involvement in several Monetary Authority of Singapore (MAS) initiatives, including Projects Ubin, Orchid, and Guardian, demonstrating how established financial institutions can leverage blockchain technology while maintaining regulatory compliance.
