Leuven, 14 January 2025—SettleMint, the Digital Asset Lifecycle Management company, announces its contribution to OCBC Bank's blockchain journey. It provided the platform and tools that supported the development of OCBC’s asset tokenization platform, which offers Singapore's first tokenized bonds to corporate accredited investors.
Since 2021, SettleMint has supported OCBC's journey to integrate blockchain within its operations, building a resilient and flexible foundation for digital assets and innovative financial applications. With SettleMint’s platform, OCBC has successfully deployed a secure and scalable private blockchain network that complies with the stringent requirements of the financial services industry.
Supporting Enterprise Blockchain Development
Following the successful implementation of an initial proof of concept for the asset tokenization platform, SettleMint’s platform enabled the initiative to transition seamlessly from POC to full-scale production. The recently launched tokenized bond offering by OCBC allows corporate accredited investors (corporate AIs) to access bonds in denominations of S$1,000, compared to traditional denominations of S$250,000. In addition to smaller denominations that increase the ability for Corporate AIs to further diversify their investments, the offering enables OCBC to structure the tokenized bonds based on the tenor and yield desired by the customer.
Another notable use case powered by the SettleMint platform was the Purpose Bound Money initiative with the Land Transport Authority of Singapore (LTA), showcased at the Singapore FinTech Festival (SFF) in 2024. The solution, which is blockchain-based, will enable the LTA to disburse mobilization advance payments efficiently with greater transparency to its main contractors.
"The launch of OCBC's asset tokenization platform represents a significant milestone in the practical application of blockchain technology in traditional finance," said Matthew Van Niekerk, Co-Founder and President of SettleMint." By providing the foundational infrastructure and tools that enable institutions like OCBC to build and scale their blockchain initiatives, we're seeing the real-world impact of tokenization in making capital market products more accessible, configurable, and efficient. This development demonstrates how enterprise-grade blockchain solutions can democratize access to financial instruments while maintaining the highest security and compliance standards."
About SettleMint
SettleMint, headquartered in Leuven, Belgium, with offices in UAE, Singapore and Japan is the company behind DALP, the Digital Asset Lifecycle Platform. DALP enables financial institutions, market infrastructure operators, and governments to build, deploy, and manage digital assets and blockchain applications at scale.
About OCBC Bank
OCBC is Singapore's longest-established bank. It originated in 1932 through the merger of three local banks, the oldest dating back to 1912. OCBC's core purpose centers on enabling the aspirations of people and communities.
As Southeast Asia's second-largest financial services group by assets, OCBC maintains prestigious credit ratings (Aa1 from Moody's, AA from both Fitch and S&P). Its commitment to excellence has earned it numerous awards, cementing its position among Singapore's top banks.
With strong Asian roots, OCBC provides comprehensive coverage across ASEAN and Greater China and is present in key global financial centers—New York, London, and Sydney. They leverage their deep local knowledge to support personal wealth growth and business opportunities across borders, both for present and future needs.
The Group maintains a network of nearly 420 branches and representative offices across 19 countries and regions.
