Singapore Stock Exchange and Temasek collaborate to streamline transaction processes using blockchai

2024-01-04

According to foreign media reports, the Singapore Stock Exchange (Singapore Stock Exchange) announced on the 22nd the establishment of a joint venture with Temasek to simplify the issuance and trading of financial products listed on its platform through DLT (Distributed Ledger Technology).

The use of distributed ledger technology can improve efficiency in many aspects of the financial product lifecycle, from listing, issuance to transaction settlement. This company will become an exchange led digital asset joint venture in the Asia Pacific region, focusing on capital market workflows with smart contracts, ledger technology, and payment tokenization technology.

A report released by Nikkei Asia on Friday stated that the company will initially consider bonds, funds, and sustainable financial products, and may expand into other asset classes such as stocks in the future.

Previously, the Singapore Stock Exchange had collaborated with Temasek and banking giant HSBC to complete the first publicly issued syndicated digital bond of Aolan Asia. Subsequently, three fixed income bonds with a total value exceeding SGD 1 billion were issued through the system. The Singapore Stock Exchange stated that this cooperation is based on this successful cooperation.

The above-mentioned joint venture company will seek cooperation with fixed income issuance platforms to connect their post transaction and asset service infrastructure, providing issuers, arranging banks, lawyers, investors, and payment agents with a comprehensive network of Asian bonds from issuance to settlement.

Lee Beng Hong, Head of Fixed Income, Foreign Exchange, and Commodities Business at the Singapore Exchange, commented, "We are delighted to collaborate with Temasek and are confident that this will take our digital asset business to a new level."

Take the lead in identifying the four major enterprise level technology trends in 2021