DBS expects tokenised finance investment to catch up with traditional payments, custody in 2-3 years
Lender sees digital assets moving beyond experimentation, even as cryptocurrency prices remain under pressure
DBS anticipates that its investment in tokenised finance will soon surpass spending on traditional payments and custody services within the next two to three years. As the financial institution positions itself for what it perceives as an "inflection point" in digital-asset adoption, the share of investment in tokenised finance has been on the rise over the past few years.
However, currently, it remains smaller than the spending on traditional payments and custody. Lim Soon Chong, the group head of global transaction services at DBS, did not provide the current split between these sectors. Notably, data centre operators Digital Realty and STT GDC recently received a new 50 MW of capacity in Singapore, while Jardine C&C recently sold its dealerships in Singapore and Malaysia to Indonesia's Chandra Asri for a sum of US$221 million.
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