Today Singapore’s DBS Bank announced it has priced its first blockchain digital bond on the DBS Digital Exchange (DDEx). As with other security token offering platforms launched by institutions, the first bond raises a relatively small amount of funds for DBS itself.
The SGD 15 million ($11m) DBS Digital Bond has a six-month maturity, carries a 0.6% coupon and was privately placed.
Late last year, DBS announced it received regulatory approval for the digital asset exchange. The solution has three aspects, a cryptocurrency exchange launched in December, a security token platform and digital asset custody, all available only to accredited investors. In terms of security token offerings (STOs), it targets unlisted stocks, bonds, and private equity funds. On the latter point, Asia-Pacific assets under management make up 28% of the global private equity market, according to Bain.
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