Deutsche Bank Taps Singapore Fintech for Digital Assets POC
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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.
Questions & Answers
Q.What is the primary objective of this proof-of-concept between Deutsche Bank and Hashstacs?
What is the primary objective of this proof-of-concept between Deutsche Bank and Hashstacs?
The POC aims to explore the technological and practical feasibility of digital assets interoperability, liquidity, cross-border connectivity, and smart contract templates. It will also investigate supporting sustainability-themed digital bonds.
Q.Which specific division of Deutsche Bank is involved in this collaboration?
Which specific division of Deutsche Bank is involved in this collaboration?
Deutsche Bank Securities Services is working with Hashstacs on this project. Jeslyn Tan, global head of product management for securities services at Deutsche Bank, commented on the collaboration.
Q.Has Hashstacs undertaken similar blockchain projects before this partnership?
Has Hashstacs undertaken similar blockchain projects before this partnership?
Yes, Hashstacs previously partnered with Malaysia’s national stock exchange on a blockchain POC for its bonds marketplace. They are also co-developing a blockchain platform with EFG Bank for structured products.
Q.Who is funding the grant for this proof-of-concept project?
Who is funding the grant for this proof-of-concept project?
The project is being undertaken using a grant provided under the Monetary Authority of Singapore’s Financial Sector Technology and Innovation (FSTI) scheme. This scheme supports financial innovation.
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