DBS Joins Hedera Hashgraph

DBS Bank Joins Hedera Hashgraph Governing Council

CryptocurrencyEnterprise BlockchainNews
··1 min read

Today it was announced that DBS Bank, a major financial institution based in Singapore has joined the Hedera Governing Council.

As a council member, DBS bank will run one of Hedera’s 39 network nodes and join a host of some of the world’s biggest organizations, including IBM, Google, University College London, Dentons, and Standard Bank in directing the future of the DLT’s technology. According to Hedera, this “enterprise-led structure greatly reduces the risk of ideological or personal disputes that have affected the governance of other public DLT networks.”

DBS has been actively exploring the use of blockchain and DLT technology. The southeast Asian bank has leveraged blockchain solutions for payments and cross-border settlements, as well as recently launching its own blockchain-powered digital asset exchange for institutional clients and accredited investors.

DBS’s Group Chief Information Officer, Jimmy Ng said, “We have been leveraging emerging technologies to reshape the future of banking and have in recent months brought to market a number of innovative offerings powered by blockchain to help our clients seize opportunities in the new normal. We look forward to joining our peers on the Hedera Governing Council in exploring further use cases that bring tangible benefits to our stakeholders.”

Learn more about Hedera.

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