Singapore bank DBS uses DeFi to trade FX and state securities

FX and government securities' trading can benefit from DeFi, DBS Bank found within a study backed by the Monetary Authority of Singapore.

DBS Bank, a major financial services group in Asia, is applying decentralized finance for a project backed by Singapore’s central bank.

The project has shown that trading on a private DeFi protocol enables simultaneous operations of instant trading, settlement, clearing and custody. The initiative could potentially transform the existing trading processes by providing better liquidity across multiple financial assets and markets, DBS said.

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