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Singapore Exchange Planning To Restructure Trading Processes Using Blockchain Technology

Subsequent to an effective pilot of Distributed Ledger Technology-based bond issues, the Singapore Exchange has formed a dedicated company with investment firm Temasek to spread and develop the use of the blockchain technology.

The use of DLT might bring competences to many characteristics of the lifecycle of financial products from listing and issuing through to the settlement of trades.

As per a recently published report by Nikkei Asia, the exchange will primarily consider bonds, funds and sustainable financial products. In the future, it may be extended to cover other asset classes such as company stocks and equities.

This was ensued by an additional 3 fixed-income bonds issued through the system, summing up to be more than one billion Singapore dollars (approximately seven hundred and fifty million USD) in value.

SGX’s head of fixed income, currencies and commodities, Lee Beng Hong commented on the project:

“We are very excited to take our digital asset business to the next level in partnership with Temasek.”

Notably, the aforementioned announcement formalizes the partnership in the formation of a limited company while encompassing and expanding the range of the preceding trial.

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