Singapore’s Biggest Bank DBS Launches Metaverse ‘BetterWorld’ Concept to Reduce Food Waste
The ‘BetterWorld’ gamified experience will be accessible to the public once the Sandbox’s Alpha Season 4 is launched before the end of 2023.
DBS Bank cooperates with Standard Chartered PLC on developing distributed ledger technology for trade finance in Singapore.
The ‘BetterWorld’ gamified experience will be accessible to the public once the Sandbox’s Alpha Season 4 is launched before the end of 2023.
A live cross-currency transaction involving tokenized JPY and SGD deposits was also successfully conducted alongside a simulated exercise that involved buying and selling tokenized government bonds.
Singapore’s largest bank DBS is targeting rich clients, spread across Asia, to offer its crypto services.
The new initiative is not a surprise for many as JPMorgan Chase, DBS, and Temasek are not new players in the blockchain and digital currency ecosystem.
The massive attention that cryptocurrencies and blockchain technology have received in past months called the attention of DBS Bank.
Some of the firms included in the deal with Standard Chartered are UK-based financial technology company LMAX, crypto exchange ErisX, Switzerland-based custody provider METACO and UK-based trading technology provider Cobalt.