UBS, SBI, DBS Bank execute digital bond cross-border repurchase transactions through blockchain

As part of Singapore’s Project Guardian tokenization trial, UBS, SBI and DBS executed locally issued digital bond repurchase transactions (repo) on a public blockchain. The transactions span three jurisdictions: Japan, Singapore and Switzerland. In this transaction, the Japanese yen bonds were issued natively on the public blockchain using the UBS Tokenize platform, with instant settlement using Japanese yen stablecoins issued by Shinsei Trust & Banking, a subsidiary of SBI. Repo transactions involve borrowing yen against bonds, with the proceeds used to buy more bonds. (Ledger Insights)