Singapore Banks Accelerate Tokenisation Push Amid Regulatory and Talent Hurdles

Singapore banks are intensifying their asset tokenisation initiatives to boost efficiency and competitiveness, though regulatory and talent challenges remain. DBS recently launched tokenised structured notes on the Ethereum blockchain, building on earlier tokenised bond experiments. OCBC and UOB are also expanding digital asset operations, with executives calling tokenisation a fast-emerging mainstream finance trend. Bankers say compliance and know-your-customer frameworks must evolve to address anti-money-laundering risks, while shortages persist in talent combining finance, technology, and legal expertise. The Monetary Authority of Singapore’s Project Guardian continues to steer collaboration between regulators and industry, aiming to enhance liquidity and standardise market practices for tokenised assets.