DBS goes live on SGX unit's crypto platform; launches programmable money pilot

finextra.com:

It is now moving into crypto with the MaxxDigital offering, which promises the ability to price, trade and distribute any cash or tradable tokenised digital assets. The platform incorporates OTC and FX execution features for digital asset trading, as well as streaming, Request for Stream and Request for Quote workflows.Manish Kedia, CEO, MaxxTrader, says: "There is currently a large gap in the digital assets trading market for a robust, functionality-rich trading solution and we believe that MaxxDigital can fill this critical gap."Jacky Tai, MD, group head, trading and structuring, treasury and markets, DBS, adds: "Partnering with MaxxTrader and leveraging their expertise enhances our digital asset trading offering and trading hours even over weekends without having to commit to additional backend resources."Separately, DBS has formed a partnership with Open Government Products (OGP) to launch a live pilot where purpose-bound money-based vouchers (PBM vouchers) are issued using tokenised SGD to facilitate “real-world” live transactions with selected merchants.