The partners will now explore the development of cross border digital assets and in particular digital bonds with sustainable themes
One of Europe’s leading banks is taking a look at digital assets and whether they are feasible and might make commercial sense.
Deutsche Bank’s Securities Services division will explore a proof of concept for the idea in partnership with Hashstacs Pte Ltd or STACS as it’s otherwise known.
STACS is a fintech development company based in Singapore which aims to transform the financial services sector through the use of technology, with an emphasis on the capital markets.
STACS is looking at use cases such as the lifecycle and management of bonds and intelligent structured products and exchange-traded derivatives, that are linked to ESG or, Environmental, Social, and Governance factors.
STACS Settlity product uses blockchain or distributed ledger technology to create an efficient securities settlement platform, and the fintech also offers applications for use in other areas such as post-trade clearing, identity management, document verification and transaction monitoring.
Deutsche Bank and STACS were awarded a proof of concept grant back in October under Singapore’s Financial Sector Technology and Innovation scheme, FSTI. Which is administered by the island states financial regulator the MAS or Monetary Authority of Singapore.
The partners will now explore the development of cross border digital assets and in particular digital bonds with sustainable themes.
The concept of digital assets is not merely a reference to dematerialised securities