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singapore-based dbs bank ltd ( sgx:d05 ), a multinational banking and financial services corporation with over $330 billion in assets, revealed on monday (may 31, 2021) that it has priced a sgd 15.
Digital Payment Token Exchange. DBS Digital Exchange now offers trading services between four fiat currencies (SGD, USD, HKD, JPY), and four of the more established cryptocurrencies, namely Bitcoin, Ethereum, Bitcoin Cash and XRP. Please note that, in general, cryptocurrencies are classified as “digital payment tokens” under the Payment Services Act 2019 (No. 2 of 2019).
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Singapore, 31 May 2021 - As part of efforts to broaden the suite of products on the DBS Digital Exchange (DDEx), DBS announced today that it has priced an SGD 15 million digital bond, marking DDEx’s first Security Token Offering (STO). The DBS Digital Bond, which comes with a six-month tenor and coupon rate of 0.60% per annum, was done by way of private placement.
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DBS Issues $15M Digital Bond in First Security Token Offering
In hopes to grow its financial products on the DBS Digital Exchange (DDex), Singapore’s DBS Bank just announced its issuance of a $11.3 million digital bond in its security token offering (STO). A security token offering is similar to that of an IPO, in that it’s a type of public offering where tokenized digital securities are sold on security token exchanges like DDex.
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DBS announced Monday its first security token offering (STO) on the DBS Digital Exchange (Ddex). The DBS Digital Bond, priced at 15 million Singapore dollars (US$11.37 million), comes with a six-month tenor and coupon rate of 0.60% per annum. It is offered as a private placement and DBS is the sole bookrunner for the transaction. The bank detailed:
Banking Hong Kong 2018 Multinational Singapore-based bank DBS has issued a S$15 million (US$11.3 million) digital bond in its first security token offering (STO). According to a press release.
Security Token Offerings - A regulated platform for the issuance and trading of digital tokens backed by financial assets, such as shares in unlisted companies, bonds and private equity funds. Digital Currency Exchange - Cryptocurrency trading that will facilitate spot exchanges from fiat currencies to cryptocurrencies and vice versa. The DBS Digital Exchange will offer exchange services between four fiat currencies (SGD, USD, HKD, JPY), and four of the most established cryptocurrencies .
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1) Tap on the push notification sent to your mobile > Tap on “Approve” button to complete your authentication. and/or. 2) Launch digibank app (Log in is not required) > Tap on “Digital Token” icon > Tap on “Approve” button to complete your authentication.
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