SettleMint Powers OCBC Bank's Blockchain Infrastructure for Digital Asset Innovation
SettleMint | Blockchain Transformation Made Easy
SettleMint's Blockchain Transformation Platform Enables OCBC Bank to Build a Secure & Scalable Platform for Asset Tokenization and Financial Applications.
LEUVEN, BELGIUM, January 17, 2025 /EINPresswire.com/ -- SettleMint, the Blockchain Transformation Company, announces its contribution to OCBC Bank's blockchain journey. It provided the platform and tools that supported the development of OCBC’s asset tokenization platform, which offers Singapore's first tokenized bonds to corporate accredited investors.
Since 2021, SettleMint has supported OCBC's journey to integrate blockchain within its operations, building a resilient and flexible foundation for digital assets and innovative financial applications. With SettleMint’s Blockchain Transformation platform, OCBC has successfully deployed a secure and scalable private blockchain network that complies with the stringent requirements of the financial services industry.
Following the successful implementation of an initial proof of concept for the asset tokenization platform, SettleMint’s platform enabled the initiative to transition seamlessly from POC to full-scale production. The recently launched tokenized bond offering by OCBC allows corporate accredited investors (corporate AIs) to access bonds in denominations of S$1,000, compared to traditional denominations of S$250,000. In addition to smaller denominations that increase the ability for Corporate AIs to further diversify their investments, the offering enables OCBC to structure the tokenized bonds based on the tenor and yield desired by the customer.
Another notable use case powered by the SettleMint platform was the Purpose Bound Money initiative with the Land Transport Authority of Singapore (LTA), showcased at the Singapore FinTech Festival (SFF) in 2024. The solution, which is blockchain-based, will enable the LTA to disburse mobilization advance payments efficiently with greater transparency to its main contractors.
"The launch of OCBC's tokenized bonds platform represents a significant milestone in the practical application of blockchain technology in traditional finance," said Matthew Van Niekerk, CEO and Co-Founder of SettleMint. "By providing the foundational infrastructure and tools that enable institutions like OCBC to build and scale their blockchain initiatives, we're seeing the real-world impact of Blockchain Transformation. This development demonstrates how enterprise-grade blockchain solutions can democratize access to financial instruments while maintaining the highest security and compliance standards."
About SettleMint:
SettleMint, the Blockchain TransformationⓇ company, bridges the gap between people, processes, and technology. In doing so, SettleMint accelerates the realization of blockchain's potential and its practical application within enterprises and the public sector. SettleMint’s platform empowers organizations to build and deploy blockchain solutions that solve real-world business challenges. Beyond the technology, SettleMint provides the tools, knowledge, methodologies, and support organizations need to succeed in their Blockchain TransformationⓇ journey. This holistic approach ensures that every initiative aligns with strategic objectives, helping drive significant value creation in today's digital economy. Visit www.settlemint.com to learn more.
Lucy Motshwane
SettleMint
lucy@settlemint.com
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