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Home Latest News Business Singapore Exchange, Temasek Start Digital Asset Business for Capital Markets

Singapore Exchange, Temasek Start Digital Asset Business for Capital Markets

SGX has formed a dedicated business with investment firm Temasek to extend and expand the use of the technology after a successful trial of DLT-based bond issues.

The use of distributed ledger technologies will offer efficiencies from listing and issuing through to the settlement of trades to many aspects of the financial goods lifecycle.

A joint venture with investment company Temasek has been revealed by the Singapore Exchange, or SGX, to use DLT to streamline the issuing and trading of financial products listed on its website.

As cointelegraph.com noted, this will primarily consider bonds, funds and sustainable financial goods, according to a Friday statement from Nikkei Asia, which could be extended in the future to include other asset classes, such as equities.

SGX has previously partnered with Temasek and banking giant HSBC to issue fixed-income securities in a trial leveraging blockchain technology. The first findings of this trial came in September 2020, when local food and agribusiness firm Olam International was given a $300 million bond.

This was followed by another three fixed-income bonds released by the process, priced at over Singapore dollars 1 billion ($750 million).

The announcement today formalizes the relationship in the formation of a limited corporation thus extending and expanding the previous trial’s reach. On the company, Lee Beng Hong, head of fixed income, currencies and commodities at SGX, commented: “We are very excited to take our digital asset business to the next level in partnership with Temasek.”

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#SGX #Temasek #Hong #HSBC #Singapore #Business #Technology #Bonds

Summarize*

SGX has formed a dedicated business with investment firm Temasek to extend and expand the use of the technology after a successful trial of DLT-based bond issues.

Social Context

SGX has formed a dedicated business with investment firm Temasek to extend and expand the use of the technology after a successful trial of DLT-based bond issues.

The use of distributed ledger technologies will offer efficiency from listing and issuing through to the settlement of trades to many aspects of the financial goods lifecycle.

A joint venture with investment company Temasek has been revealed by the Singapore Exchange, or SGX, to use DLT to streamline the issuing and trading of financial products listed on its website.

This will primarily consider bonds, funds and sustainable financial goods which could be extended in the future to include other asset classes, such as equities.

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