Crypto News Summary: DBS Adopts DeFi Protocols for FX & Government Securities Transactions, Union Bank of Philippines to Launch BTC & ETH Custody & Trading
Source: AdobeStock / walterericsy Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________ Banking news Financial services group DBS announced that it is “one of the first banks globally” to test the trading of foreign exchange (FX) and government securities using permissioned decentralized finance (DeFi) liquidity pools on a public blockchain through Project Guardian, a collaborative initiative with the financial industry that seeks to explore the economic potential and value-adding use cases of asset tokenization. According to the press release, the trade comprised the outright purchase and sale of tokenized Singapore Government Securities (SGS), Singapore Dollar (SGD), Japanese Government Bonds, and Japanese Yen (JPY). Digital asset management technology METACO announced that Union Bank of the Philippines is live on METACO’s fl...