Singapore’s largest bank DBS, JPMorgan team up to enable real-time tokenised transfers across chains
Crypto Briefing
DBS and JPMorgan partnered to create a framework for real-time, cross-chain transfers of tokenized deposits.Summary
DBS, Singapore's largest bank, has collaborated with Kinexys by JPMorgan to develop an interoperability framework for tokenized deposits. These tokenized deposits are digital representations of bank deposits on the blockchain, designed to facilitate instant settlements. The partnership specifically aims to enable real-time interbank transfers of these tokenized deposits across multiple different blockchains, ensuring 24/7 availability and maintaining the fungibility and value of deposits across platforms. This initiative follows DBS's recent collaboration with Goldman Sachs on the first interbank crypto options trade, signaling increasing integration between traditional finance and the crypto ecosystem.
(Source：Crypto Briefing)