Using DLT technology can make many aspects of the life cycle of financial products more efficientfrom listing and issuing to processing operations.
Singapore Stock Exchange SGX announced the formation of a joint venture with the investment company Temasek Using Distributed Ledger Technology (DLT) to streamline the issuance and trading of financial products on the platform.
According to a January 22 report by Nikkei Asia, sustainable bonds, funds and financial products are being considered first can be expanded to other asset classes such as stocks in the future.
SGX previously worked with Temasek and banking giant HSBCin a test that uses blockchain technology to issue fixed income securities. The first results of this test were produced in September 2020. with a $ 300 million bond for the local food and agribusiness company, Olam International.
This was followed by 3 more fixed income bonds issued through the system with a total value of more than S $ 1 billion (US $ 750 million).
Today’s announcement formalizes the partnership in forming a limited liability company, while expanding and expanding the scope of the previous article. Lee Beng HongCommenting on the company, the SGX chief of Fixed Income, Currencies and Commodities said:
“We are very excited to be taking our digital assets business to the next level in partnership with Temasek.”