Blockchain Application In The Infrastructure Of The Singapore Exchange

Temasek and SGX announced a collaboration to jointly explore the use of blockchain for financial purposes. As part of the partnership, the two companies will form a joint venture that will explore how DLT can be used to issue and settle trading in SGX-listed assets, including bonds and equities.

In November 2018, the stock exchange partnered with the Monetary Authority of Singapore (MAS) to create a blockchain-based settlement infrastructure for tokenized assets. In August 2020, SGX also partnered with Temasek and HSBC Holdings to pilot launch Asia's first publicly syndicated blockchain bond. At the time, the partnership issued a digital bond on behalf of agrobusiness Olam. SGX also owns a 10 percent stake in the DBS digital asset exchange.

The interest in blockchain from SGX indicates the growing use of DLT in the city-state, as well as in Southeast Asia in general. In December 2020, the Singapore government announced plans to invest $9 mln in blockchain. The city-state is exploring DLT system for bilateral trade with Australia.

Image: Economic Data