DBS Emerges as First Bank in Southeast Asia to Join the Hedera Governing Council

DBS Bank has joined the Hedera Governing Council, the group of diverse organisations responsible for stewarding the Hedera network which is a sustainable, enterprise-grade public network for the decentralised economy.

As the first and only bank in Southeast Asia to join the Governing Council, DBS will explore further opportunities and potential use cases to leverage the vast potential of blockchain and distributed ledger technologies.

DBS has been actively leveraging blockchain to offer solutions in areas including cross-border payments and settlements as well as trade financing.

With asset digitalisation and tokenisation fast gaining traction, DBS also launched its blockchain-backed digital asset ecosystem last year.

Anchored by the DBS Digital Exchange, DBS is able to offer corporate clients and accredited investors an integrated suite of solutions across the digital asset value chain.

Jimmy Ng

Jimmy Ng, Group Chief Information Officer and Head of Technology & Operations at DBS said,

“DBS is pleased to join some of the world’s most established organisations on the Hedera Governing Council as we collectively seek to uncover the vast potential of blockchain and distributed ledger technologies.

We look forward to joining our peers on the Hedera Governing Council in exploring further use cases that bring tangible benefits to our stakeholders.”

Mance Harmon, CEO of Hedera Hashgraph said,

Mance Harmon

“We are pleased to bring this relationship to fruition and have DBS join the Hedera Governing Council.

In our discussions over the last few years, it has been clear that they are a leader in both the management and in building an ecosystem for digital assets, as well as in emerging adoption of blockchain and DLT to drive efficiencies across their entire business.”

Source: https://fintechnews.sg/56699/blockchain/dbs-emerges-as-first-bank-in-southeast-asia-to-join-the-hedera-governing-council/