Singapore-based multi-national bank DBS has issued a US$11.3 million (SGD15 million) digital bond in its DBS Digital Exchange (DDEx) first security token offering (STO). The DBS Digital Bond has a sixth-month expiry and a coupon rate of 0.6% per annum. This announcement comes just after Southeast Asia’s largest bank launched its first crypto exchange.
Through this digital bond, other issuers and clients can tap on DDEx’s capabilities to efficiently access capital markets for their funding needs. They can also set the stage for more STO issuances and listings on DDEx as asset tokenisation grows in popularity.