Deutsche Bank Securities Services and Hashstacs (STACS) have announced that they will collaborate on exploring a proof-of-concept (PoC) related to the technological and practical feasibility of digital assets interoperability, liquidity, cross-border connectivity, and smart contract templates, including the support of sustainability-themed digital bonds.
Last October, STACS and Deutsche Bank Securities Services were awarded the PoC grant, which provides funding support for experimentation, development and dissemination of nascent innovative technologies in the financial services sector. The grant is part of the Financial Sector Technology and Innovation scheme under the Financial Sector Development Fund administered by the Monetary Authority of Singapore.
STACS, a Singapore-headquartered fintech development company, focuses on capital markets use cases, such as the trade lifecycle management of bonds; environment, social and governance fintech; structured products; and exchange-traded derivatives.
“Investors will increasingly need to custodize their digital assets, ensure settlement finality, and have confidence in their safekeeping and security with the support of a bank’s institutional infrastructure,” says Jeslyn Tan, global head of product management, securities services, at Deutsche Bank, the project’s sponsor. “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.”
“We hope that our technology will be the infrastructure rails that empower global markets connectivity and sustainability,” notes Benjamin Soh, managing director at STACS. “More broadly, we hope to support Singapore’s position as a world financial network and hub for innovation and technological transformation.”