Deutsche Bank Securities Services and STACS to Work on ESG Fintech, Structured Products, and Projects Involving Digital Assets

Deutsche Bank Securities Services and Hashstacs Pte Ltd (STACS) are reportedly working on a proof-of-concept (PoC) that will involve exploring the technological and practical feasibility of digital assets.

The PoC will take into consideration factors like the level of interoperability, liquidity, cross-border connectivity, and various smart contract templates, which will also include the support of sustainability-related digital bonds.

Deutsche and STACS were provided the PoC grant in late October 2020 as part of the Financial Sector Technology and Innovation (FSTI) scheme under the Financial Sector Development Fund managed by the Monetary Authority of Singapore (MAS).

STACS is mainly focused on use-cases for capital markets, like the trade lifecycle management of bonds, Environmental, Social, and Governance (ESG) Fintech, various structured products, and exchange-traded derivatives (ETD).

Jeslyn Tan, Global Head of Product Management, Securities Services at Deutsche Bank, stated:

“As the sponsor of the project, we are proud to partner with STACS on the MAS FSTI funding scheme. Investors will increasingly need to custody their digital assets, ensure settlement finality, and have confidence in their safekeeping and security with the support of a bank’s institutional infrastructure. As a result, we see a clear place for an integrated platform that can service cross-border issuer-investor needs in Singapore and around the world.”

Benjamin Soh, MD at STACS, remarked:

“We are thrilled to collaborate with Deutsche Bank on this transformative technological project, and further the expansion of our work in green Fintech and ESG. We hope that our technology will be the infrastructure rails that empower global markets connectivity and sustainability. More broadly, we hope to support Singapore’s position as a world’s financial network and hub for innovation and technological transformation.”

STACS has also teamed up with Switzerland-based private bank EFG on “Project Nathan – Smart Structured Products” in order to implement a blockchain or distributed ledger tech (DLT) platform that will enhance the key processes related to structured products. The firm has also recently finalized a pilot DLT proof of concept with Malaysia’s stock exchange, Bursa Malaysia.

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