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Southeast Asia s Largest Bank DBS Launches First Security Token Offering on Its Cryptocurrency Exchange
DBS, Southeast Asia’s largest bank, has launched its first security token offering (STO) on its cryptocurrency exchange. The DBS Digital Bond is priced at 15 million Singapore dollars. “We expect asset tokenization to increasingly become more mainstream,” said a DBS executive.
DBS’ First Security Token Offering
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:
Singapore-based DBS has launched a digital bond security token to expand its offerings to clients.
DBS can operate as a digital asset exchange, while the bank launched its crypto exchange in December.
The bank said that the listing will enable other clients and issuers to utilize DDEx’s infrastructure.
Singapore-based multinational Banking Corporation DBS has issued its first security token offering (STO) with an $11 million digital bond.
The announcement, according to DBS, is being issued through its Digital Exchange (DDEx). It comes with a coupon of 0.6% per annum and a 6-month expiry.
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