DBS Bank To Issue Digital Bonds In Its First Security Token Offering

Singapore’s DBS Bank will issue an $11.3 million digital bond in its treasury token offering while hoping to grow its financial products on the DBS Digital Exchange so let’s find out more in our latest crypto news today.

The security token offering is quite similar to that of an IPO because it is a type of public offering where the tokenized digital securities are sold on the security exchanges just as DDEX and then these tokens can be used to trade equities and much more. The DBS digital bond which is issued via DDEx came with a six-month expiry and a coupon rate of 0.
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60% per annum. DBS stated that this will even allow the issuers of the security token offering and private clients to tap into DBS’ growing infrastructure and to access capital markets for funding.

Eng-Kwok Seat Moey who is the head of capital markets at DBS said that the company’s issuance of security tokens poses a huge opportunity for corporations to seek more creative ways of fundraising from private capital markets:

“Our maiden STO listing on the DBS Digital Exchange is a significant milestone, as it highlights the strength of our digital asset ecosystem in facilitating new ways of unlocking value for issuers and investors.”

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— DBS Bank (@dbsbank) May 19, 2021

The bank expects tokenization to become much more mainstream as it continues to expand the digital asset services so considering that the STOs on DDEx offer the same protection in legal terms as the bank’s traditional offering like securities, it’s possible that more Asian pacific companies will embrace this issuance as a valid method for raising ore capital.:

“We expect asset tokenization to increasingly become more mainstream as more of our clients start to embrace security token issuance as part of their capital fund raising exercise which we believe will boost Singapore’s ambitions to be a digital asset hub in Asia.”

Since the launch of DDX in December last year, DBS reported that the daily crypto trading volumes increased by over 1000% with $60 million worth of digital assets in custody so, amid the growing retail and institutional interest in crypto, the bank launched a crypto trust offering for the private wealth management at the start of the month.