Deutsche Bank Securities Services has teamed up with Singapore fintech Hashstacs (STACS) to explore a proof of concept (PoC) related to the technological and practical feasibility of digital assets interoperability.
The bank and fintech will also consider liquidity, cross-border connectivity, and smart contract templates, including the support of sustainability-themed digital bonds.
STACS, in collaboration with Deutsche Bank Securities Services, was awarded the proof of concept grant in October, which provides funding support for innovative technologies in the financial services sector.
Jeslyn Tan, global head of product management, securities services at Deutsche Bank, explained that investors will increasingly need to custodise their digital assets, ensure settlement finality, and have confidence in their safekeeping and security with the support of a bank’s institutional infrastructure.
“As a result, we see a clear place for an integrated platform that can service cross-border issuer-investor needs in Singapore and around the world,” commented Tan.
Benjamin Soh, managing director at STACS, noted: “We are thrilled to collaborate with Deutsche Bank on this transformative technological project, and further the expansion of our work in green fintech and environmental, social, and governance.”
“We hope that our technology will be the infrastructure rails that empower global markets connectivity and sustainability. More broadly, we hope to support Singapore’s position as a world’s financial network and hub for innovation and technological transformation,” added Soh.
STACS is focused on capital markets use cases, such as the trade lifecycle management of bonds, ESG fintech, structured products and exchange-traded derivatives.
Meanwhile, in Hong Kong, Deutsche Bank has recently facilitated a margin trading and securities lending transaction under China’s expanded Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors schemes.
