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The two sides will jointly explore a proof-of-concept (POC) using a grant under the Monetary Authority of Singapore’s Financial Sector Technology and Innovation (FSTI) scheme.
Deutsche Bank Securities Services will work with Singapore-based blockchain development firm Hashstacs to explore the technological and practical feasibility of digital assets interoperability, liquidity, cross-border connectivity and smart contract templates.
The POC will also explore the support of sustainability-themed digital bonds, according to a joint statement on Thursday,
We see a clear place for an integrated platform that can service cross-border issuer-investor needs in Singapore and around the world, Jeslyn Tan, global head of product management, securities services at Deutsche Bank, said about the collaboration.
Founded in 2019, Hashstacs previously partnered with Malaysia’s national stock exchange on a blockchain POC project for its bonds marketplace, and is working with EFG Bank to co-develop a blockchain platform that will enhance and simplify the processes of structured products.
