Key Takeaways
- DBS and JPMorgan have collaborated on a framework enabling interoperability for tokenized deposits.
- The collaboration aims for real-time interbank transfers of tokenized deposits across multiple blockchains.
DBS, Singapore’s largest retail and commercial bank, has partnered with Kinexys by JPMorgan to develop an interoperability framework for tokenized deposits, which are blockchain-based digital representations of bank deposits that facilitate instant settlements.
The collaboration with JPMorgan’s Kinexys division aims to create a framework enabling real-time interbank tokenized deposit transfers across multiple blockchains.
Last month, DBS and Goldman Sachs executed the first-ever crypto options trade between banks, involving cash-settled over-the-counter options for Bitcoin and Ether. The move marked a major step in integrating traditional finance with the crypto ecosystem and reflects growing confidence in crypto derivatives among major financial institutions for hedging and risk management.
Source: https://cryptobriefing.com/dbs-jpmorgan-tokenized-deposits-interoperability/
