Singapore JV taps blockchain tech – Asia Times

Providing blockchain-based financial services is the aim of a new joint venture between Singapore-owned investor Temasek and the city-state’s stock exchange SGX.

The company announced on Friday that it will use digital ledger tech to streamline the process of issuing and settling trading of listed products on the Singapore Exchange. It will start with bonds, funds and sustainable finance products, before potentially extending to cover other asset classes such as equities, Nikkei reports.

“We are very excited to take our digital asset business to the next level in partnership with Temasek,” said Lee Beng Hong, head of fixed income, currencies and commodities at SGX.

“Together [with Temasek], we will capitalize on digitalisation trends that continue to shape global capital markets, and advance the development of capital markets infrastructure in Asia.” 

SGX said it is the first Asian exchange to streamline the process of issuing and trading syndicated bonds using blockchain-based tech.