Overview
Distributed Ledger Technology (DLT) is a digital system for recording the transaction of assets in which the transactions and their details are recorded in multiple places at the same time.
DLT use cases
Trade Finance
Eases the existing pain points of buyers, sellers and financial institutions while opening the ecosystem to new non-traditional players.
Cross-Border Payments
Enables payment across currencies almost instantly for a fraction of today’s cost and provide access to the unbanked in remote areas.
Digital Identity
Creates an auditable source of information shared and verified across a network of organisations.
Clearing and Settlement
Drive efficiency in the clearing and settlement process of payments and capital markets.
Provenance
Offers an immutable and irreversible source of information that can track the true ownership of a product across the supply chain.
Multi-Party Aggregation
Used as a shared master data repository for common industry information allowing members to query the data.
Record-Keeping
Provides a method for collectively recording and notarising any type of data, whose meaning can be financial or otherwise.
Re-insurance
Contractual terms and obligations can be programmed directly, maximising adherence (e.g., final contract, signatures, claims & premiums processing).
Development Initiatives
BLOOM
Collaborative initiative with the financial industry to strengthen Singapore’s financial infrastructure capabilities by enabling the use of tokenised bank liabilities, well-regulated stablecoins and CBDCs as settlement assets.
Guardian
Collaborative initiative between policymakers and the financial industry to enhance liquidity and efficiency of financial markets through asset tokenisation.
Ubin+
Collaboration with international partners on cross-border foreign exchange (FX) settlement using digital currencies.