SGX Ties up with Temasek to develop blockchain based digital asset infrastructure

By Fintech News Singapore

Singapore Exchange (SGX) and Temasek announced that they have entered into a joint venture (JV) to advance digital asset infrastructure through the use of blockchain.

SGX said in a statement that the JV is set to be Asia Pacific’s first exchange-led digital asset venture focused on capital markets workflows through smart contracts, ledger and tokenisation technologies.

The partnership between SGX and Temasek combines SGX’s multi-asset experience in operating market infrastructure together with Temasek’s expertise in blockchain technology and ecosystem connectivity.

The JV will look to partner with fixed income issuance platforms to connect to its post-trade and asset servicing infrastructure, providing issuers, arranger banks, lawyers, investors and paying agents with a comprehensive, issuance-to-settlement network for Asia bonds.

Concurrently, the JV will also focus on other existing and emerging asset classes that have seen growing market demand, including funds and sustainable finance.

This builds on the collaboration between SGX, Temasek and HSBC which culminated with the issuance of their first public syndicated digital bond for Olam International in August 2020. In all, SGX’s digital asset issuance, depository and servicing platform was used to issue four digital bonds by several issuers, with a total size of over S$1 billion.

Copyright @ 2021 Fintech News Singapore

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