DBS is first bank in SEA to Join Hedera Governing Council

DBS Bank, one of the foremost financial services groups based and listed in Singapore with operational presence in 18 markets, has joined the Hedera Governing Council.

HGC is a group made up of different organizations charges with operating and managing the Hedera network, renowned as the most used, sustainable, enterprise-grade public network for the decentralized economy. 

The Hedera Governing Council is made up of big-money unicorns in sectors such as technology, corporate, non-profit and academic arenas.

Already setting a remarkable record as the first and only lender in Southeast Asia to join the Governing Council, DBS hopes to further weigh available opportunities and other possible use cases to leverage the vast potential of blockchain and distributed ledger technologies as it works towards reimagining the future of banking.

DBS has already been involved in actively leveraging blockchain to provide solutions in different including cross-border remittances and settlements as well as trade financing. As asset digitalisation and tokenisation continues to gain swift momentum, DBS also inaugurated its blockchain-supported digital asset ecosystem in 2021. Powered by the DBS Digital Exchange, DBS provides corporate clients and verified investors an integrated suite of offerings across the digital asset value chain.

Jimmy Ng, Group Chief Information Officer and Head of Technology & Operations at DBS, said, “DBS is pleased to join some of the world’s most established organisations on the Hedera Governing Council as we collectively seek to uncover the vast potential of blockchain and distributed ledger technologies.