DBS Bank: Asset Tokenization To Become More Mainstream
9 Jun 2021 — According to Eng-Kwok Seat Moey, DBS Bank’s group head of capital markets, with the recent launch of its maiden Security Token Offering STO / digital securities offering, the bank is expecting asset tokenization to increasingly become more mainstream as more of their clients start to embrace security token issuance as part of their capital fundraising exercise.
Enormous thanks to Michelle Lim for inviting our CEO, Tuhina Singh to share her opinions in the latest article in Forkast.News, on how STOs are not just going to transform the way funds are raised, but the entire tooling of the securities services and fund administration.
Tuhina remarked, “The operating models in securities services are 20 years old at least and are ripe to be transformed through the new technology. Last year, mistakes in corporate actions surged heavily due to pandemic related disruptions and processes being not digital enough, with too many manual touch points. Direct costs of compensation for wrong corporate actions is not the entire picture or even the biggest problem.”
“These mistakes create heavy second ripple impact through the customers impacted, extra hours worked and the loss of management time. Over next 12 to 18 months, we expect smart securities to reach the board level with appropriate business cases being built. That’s when we will see the J-curve of adoption.” she added.
Check out the full article here:
https://forkast.news/dbs-singapore-digital-bond-security-token-offering-tokenization-asia/
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