Singapore’s largest bank DBS, JPMorgan team up to enable real-time tokenised transfers across chains
**DBS and JPMorgan Collaborate on Interoperability Framework for Tokenized Deposits**
DBS, Singapore’s largest retail and commercial bank, has partnered with Kinexys, a division of JPMorgan, to develop an interoperability framework for tokenized deposits. These tokenized deposits are blockchain-based digital representations of bank deposits that enable instant settlements.
The collaboration aims to facilitate real-time interbank transfers of tokenized deposits across multiple blockchains, creating a seamless and efficient framework for cross-bank transactions. This initiative underscores a significant step towards integrating traditional banking with blockchain technology.
In a related development, last month DBS and Goldman Sachs executed the first-ever crypto options trade between banks. This involved cash-settled over-the-counter options for Bitcoin and Ether, marking a major milestone in bridging traditional finance with the crypto ecosystem.
The successful crypto options trade reflects growing confidence among major financial institutions in using crypto derivatives for hedging and risk management, highlighting the expanding role of digital assets in mainstream finance.
https://bitcoinethereumnews.com/tech/singapores-largest-bank-dbs-jpmorgan-team-up-to-enable-real-time-tokenised-transfers-across-chains/
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