In a groundbreaking move for Asia's financial markets, DBS Bank has successfully issued a tokenized fixed-income instrument using JPMorgan’s blockchain network, Onyx, marking a significant step in the digitization of capital markets.
Singapore-based DBS Bank has become the first financial institution in Asia to issue a tokenized bond on the Onyx Digital Assets platform by JPMorgan. The tokenized bond, worth SGD 100 million, is a one-year fixed-income product with a 3.75% coupon, entirely settled and recorded on blockchain infrastructure.
This initiative is part of Singapore’s broader ambition to lead the region in digital asset innovation. MAS has been actively supporting tokenization pilots under Project Guardian, working alongside industry giants like JPMorgan, HSBC, and Marketnode.
The tokenized bond was fully subscribed within 48 hours, with participation from institutional investors across Asia. DBS stated that this transaction showcases the potential of blockchain to streamline trade settlement, reduce counterparty risk, and enable near-instantaneous transfers of ownership.
Piyush Gupta, CEO of DBS Group, commented:
“Tokenization is not just a technological experiment — it represents a new frontier for capital efficiency and financial inclusion.”
The successful issuance adds to the growing list of blockchain milestones achieved by Singapore’s financial sector, which is rapidly evolving into a leading hub for regulated digital asset activities. Market observers believe more banks will follow suit, offering tokenized versions of traditional financial instruments in the coming quarters.
Keywords: Tokenized Bond, DBS Bank, Blockchain, Onyx, Digital Assets, MAS