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Last Trade - 05/03/21

Sector
Financials
Size
Large Cap
Market Cap £5.73bn
Enterprise Value £5.51bn
Revenue £589.4m
Position in Universe 275th / 6141

Singapore Exchange, Temasek tie up for digital asset venture

Fri 22nd January, 2021 9:23am
SINGAPORE, Jan 22 (Reuters) - Singapore Exchange Ltd
 SGXL.SI  and Singapore state investor Temasek Holdings  TEM.UL 
are jointly starting a digital assets venture that will focus on
capital market products such as bonds.    
    "The early success in our digital bond issuance platform has
paved the way for SGX to make a larger move into digital
assets," Lee Beng Hong, head of fixed income, currencies and
commodities at SGX, said in a statement on Friday.
    The venture comes after Asia's first digital syndicated
public corporate bond of Olam International  OLAM.SI  was
completed last year by SGX, HSBC  HSBA.L  and Temasek.
    Globally, tech companies, exchanges and banks are
experimenting with blockchain, a digital ledger of transactions,
and smart contracts to boost efficiency and cut costs and
settlement periods, while authorities explore whether and how
best to regulate this.
    Temasek has built up a team with expertise in blockchain
technology and partnered with banks and the central bank in
related projects.
    SGX and Temasek said the joint venture will partner with
fixed income issuance platforms to connect to its post-trade and
asset servicing infrastructure. It will utilise smart contracts,
and ledger and tokenisation technologies.
    The venture will also focus on other asset classes such as
funds and sustainable finance.

 (Reporting by Anshuman Daga; Editing by Karishma Singh)
 ((anshuman.daga@tr.com))
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