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DBS rolls out blockchain-powered banking for institutions with DBS Token Services, marks new milestone in financial services

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DBS Token Services integrates blockchain-enabled capabilities with the bank’s core transaction banking services to deliver new client experiencesKey solutions include Treasury Tokens, Conditional Payments and Programmable RewardsDBS Token Services is the culmination of several industry pilots; marks next phase in the industrialisation of blockchain technology

SINGAPORE, Oct. 18, 2024 /PRNewswire/ — DBS today announced the introduction of DBS Token Services – a new suite of banking services that integrate tokenisation and smart contract-enabled capabilities with its award-winning banking services. It aims to unlock new transaction banking capabilities and operating efficiencies for its institutional clients.

DBS Token Services unlocks instant, 24/7 real-time settlement of payments by integrating the bank’s Ethereum Virtual Machine-compatible permissioned blockchain, its core payment engine and multiple industry payment infrastructures. In addition, smart contracts enable programmability for institutions to govern the use of funds according to predefined conditions, enhancing security and transparency. Using a permissioned blockchain provides DBS full control over these services, enabling the bank to harness the benefits of blockchain technology while adhering to compliance standards.

The culmination of several years of industry collaborations and experimentation in digital money innovations, the suite of solutions – Treasury Tokens, Conditional Payments, and Programmable Rewards – exemplifies how established financial institutions can leverage blockchain technology and smart contracts to deliver new client experiences.

Lim Soon Chong, Group Head of Global Transaction Services, DBS Bank, said: “To capture the massive shift of human and corporate activity to on-demand digital services, companies and public sector entities are reimagining their operating models and customer engagement strategies. A new generation of “always-on” banking services is essential to support this shift and transformation.”

“By leveraging tokenisation and smart contract capabilities, DBS Token Services enables companies and public sector entities to optimise liquidity management, streamline operational workflows, strengthen business resilience, and unlock new opportunities for end-customer or end-user engagement. It marks a significant step forward in transaction banking and demonstrates how established financial institutions can leverage blockchain technology to deliver new ground-breaking features and experiences,” he added.

Treasury Tokens: Solving for traditional treasury frictions

DBS recently launched Treasury Tokens, a next-generation treasury and liquidity management solution, in a pilot with Ant International. This solution currently supports ongoing intra-group transfers within Ant International.

Treasury Tokens empowers large corporations operating across multiple markets to settle multi-currency intra-group transactions instantly on a 24/7 basis, unconstrained by currency cut-off timings and non-banking hours associated with traditional banking systems.  Treasury Tokens provide corporate treasurers with greater visibility, predictability and control as they navigate the complexities of an increasingly real-time world.

Conditional Payments: Smarter payments and workflows

Building upon DBS’ recent programmable grant disbursements pilot with Enterprise Singapore and Singapore Fintech Association, DBS will explore the further application of Conditional Payments, opening up new possibilities for smart contracts to improve payment workflows. The pilot demonstrated the ability to programme conditions governing the disbursement of funds, providing the agency with enhanced governance control over disbursements handled by its appointed intermediary.

Conditional Payments offer institutions the potential to redesign and automate overall payment workflows and can be extended to varying forms of intermediated payments and milestone-based payments. Institutions and their partners can expect to benefit from greater transparency, operating efficiencies and control in transactions.

Programmable Rewards: the future of digital rewards and vouchers

DBS will also be exploring the application of smart contracts for Programmable Rewards. The solution enables institutions to leverage on programmability to curate digital voucher programmes for their customers in a cost-effective manner.

As part of this exploration, DBS Hong Kong recently announced its participation in the second phase of the Hong Kong Monetary Authority’s e-HKD Pilot Programme. DBS’ pilot aims to examine the use of programmable rewards and a hypothetical e-HKD – a digital Hong Kong dollar – to enhance a consumer incentive programme on an Environmental, Social, and Governance (ESG) reward platform. Participating corporates can create ESG campaigns and set redemption guidelines to foster a green corporate culture and promote participation. Users who complete green actions will receive new digital vouchers, which can be used to purchase green products and services at designated small and mediums-sized merchants.

DBS: Shaping the future of finance

Since 2016, DBS has been a driving force in several industry initiatives led by the Monetary Authority of Singapore to explore the potential of blockchain technology in enhancing Singapore’s financial landscape. Key initiatives include Project Ubin[1], Project Orchid[2] and Project Guardian[3].

DBS Token Services continues to explore broader applications of blockchain-enabled solutions, including the tokenisation of securities and digitalisation of trade finance. These innovations reflect DBS’ ongoing commitment to building a more robust and innovative banking landscape.

[1] Project Ubin is a multi-year multi-phase project, with each phase aimed at solving pressing challenges faced by the financial industry and the blockchain ecosystem. The project successfully concluded in 2020 after five phases and the publication of six project reports.

[2] Project Orchid is a multi-year multi-phase project led by the Monetary Authority of Singapore to develop the technology infrastructure and technical competencies necessary for a digital Singapore dollar. As part of Project Orchid, the Purpose Bound Money (PBM) protocol is developed to investigate the potential benefits of programmability in digital money. PBM is a protocol which specifies the conditions upon which funds can be disbursed when conditions are met.

[3] Project Guardian is a collaborative initiative between policymakers and the financial industry to enhance liquidity and efficiency of financial markets through asset tokenisation.

About DBS

DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 16 consecutive years from 2009 to 2024.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.

DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

View original content:https://www.prnewswire.com/apac/news-releases/dbs-rolls-out-blockchain-powered-banking-for-institutions-with-dbs-token-services-marks-new-milestone-in-financial-services-302280078.html

SOURCE DBS BANK LTD

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Yeastar Unveils PBX-inbuilt Hotel Management Module to Transform Hotel Operations

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38 minutes ago

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January 15, 2025

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XIAMEN, China, Jan. 15, 2025 /PRNewswire/ — Yeastar, a global leader in Unified Communications (UC) solutions, has launched a groundbreaking Hotel Management module integrated into its P-Series Phone System. Tailored for small and medium-sized hotels, this new feature combines hospitality communications with lightweight property management to streamline hotel daily operations and enhance guest satisfaction.

The Hotel Management Module provides a comprehensive suite of hospitality-centric features with dedicated service panels. With it, hotel staff can efficiently manage room assignments, guest check-ins/outs, housekeeping updates, wake-up calls, room moves, service billing, and more day-to-day operations with just a few clicks in one unified interface.  Back-office features such as custom room status, class of service, guest stay history, call accounting, and branded invoice are also included to further optimize workflows.

For small-scale hotels, the PBX-inbuilt hotel management provides a cost-efficient way to simplify day-to-day hotel operations without incurring the high costs of traditional property management systems. Hotel staff can effortlessly handle guest services, room management, and hotel communications in one unified system, eliminating the complexity of juggling multiple platforms. This ease of use reduces training time and improves operational efficiency, ultimately enhancing the guest experience.

“The addition of the Hotel Management module to our P-Series Phone System underscores Yeastar’s commitment to delivering value-added hotel communications solution,” said Arya Zhou, Head of Global Sales at Yeastar. “As hotels seek to enhance their operational efficiency and guest experience, our all-in-one solution offers the tools they need to succeed in a competitive market.”

Key Advantages of Yeastar P-Series Phone System for Hospitality

Unify all future-proof UC capabilities for scalable business growth, including PBX, call center, live chat, SMS, omnichannel messaging, Linkus UC Clients, and more.PBX-inbuilt Hotel Management module for lightweight hotel managementSupport a wide range of PMS integrations including Oracle Hospitality OperaSupport auto-provisioning 400+ popular hotel phone models in the marketEffortless deployment & excellent compatibility in different hotel setups

About Yeastar

Yeastar makes digital value easily accessible from ownership and adoption to daily usage and management by transforming how businesses connect and communicate. Yeastar has established itself as a leading provider of UC solutions with a strong ecosystem, a global network of channel partners, and over 450,000 customers worldwide. For more information about Yeastar or to become a Yeastar partner, please visit https://www.yeastar.com/.

Media Contact:
Nicole Liu
+86-592-5503309
marketing@yeastar.com 

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View original content:https://www.prnewswire.co.uk/news-releases/yeastar-unveils-pbx-inbuilt-hotel-management-module-to-transform-hotel-operations-302347847.html

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29,999,999,950 LTSC Transferred to Bluegrace Energy Bolivia Administrative Escrow Digital Wallet on Jan 10, 2025, at 05:46:24 AM UTC

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January 15, 2025

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WILMINGTON, Del., Jan. 15, 2025 /PRNewswire/ — The underlying contract for billions of metric tonnes of voluntary market carbon offset was executed on Jan 1, 2025, and the transaction completed on Jan 10, 2025, marks a significant step forward in establishing LTSC as the foremost stablecoin digital currency facilitating seamless exchange between carbon offset providers and sellers.

Mr. Jean Bilala, Executive Chairman of Letscoin, stated that he is ready to proceed to the final step of the conversion of LTSC vs USDT. The contractual obligation and settlement of this placement will be done in parallel with the confirmation of the global carbon credit offset buyers.

When asked about the exit buyers’ confirmation and the market demand for this carbon credit offset, Dr. Thana Balan, the co-founder of LTSC, answered that the business is comprised of users that require carbon offsets. Given the global implementation of utilizing carbon credits to offset carbon footprints, this assists global businesses in achieving net zero emissions by 2050.

This process is ongoing, and it is a mandatory requirement that every industry producing a sizeable carbon footprint balances its carbon output with offsets. Industries such as airline operators, mining, oil & gas refining, and processing companies are all fully engaged. Any business that has a carbon footprint will need carbon credit offsets to operate in the very near future.

Regulations are already in place globally, which are implemented and followed. Letscoin is not alone in becoming the digital currency facilitator for this transaction. Associate, Kyoto Transformation Xchange (KTX), is developing a carbon credit tokenization system. This will include creating the system to identify measures and justify the value of the carbon footprint of all industries, land, agro facilities, reserve Amazon mapping, and more.

During their recent R&D technology meetings in Jakarta, Indonesia, and Kuala Lumpur, Malaysia, KTX introduced rocket science and AI drone facility owners to collaborate and execute their mission of being the associated partner of LTSC.

The achievement of LTSC being the digital exchange medium connecting the trade of carbon credit offsets between providers and the end buyer is an important move to the stability and sustainability of LTSC in the digital stablecoin race globally.

LTSC has structured the “payment gateway” algorithm, generated automatically, which will become a user-friendly online application that can be adopted by any level of basic digital competency. Dr. Thana’s team has the mission to implement plans to facilitate local exchange trading for goods and services that is easily accessible by using the complementary currency programs.

With the adoption of agriculture and forestry lands in Indonesia, Africa, and South America under the agro and carbon footprint mapping, significant milestones have been achieved.

When asked about the execution schedules, Dr. Thana said the execution will be divided into various sectors:

Preservation of carbon footprintTrading of carbon offsetDigitalization of carbon footprint and data management

“Our main focus will be completing the exit sales of the current contract with Bluegrace/LTSC/USDT for the 3 billion metric tonnes of carbon credit offsets. End buyers’ confirmation has been obtained for the tabletop meeting with Bluegrace, which has been requested for Jan 20, 2025, in Europe.”

LTSC believes this meeting will be a great achievement and herald the completion of all the contract commitments signed on Jan 1, 2025, to the executors and the global carbon exchange market.

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SOURCE Letscoin (LTSC)

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Empowering Businesses of All Sizes: MyGuava Business Offers a New Standard in Financial Solutions

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39 minutes ago

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January 15, 2025

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LONDON, Jan. 15, 2025 /PRNewswire/ — In today’s fast-growing world, businesses need more than traditional banking services – they require innovative financial tools tailored to their specific needs. MyGuava Business is focused on meeting these demands, offering a ground-breaking platform that caters to businesses of all sizes.

Tailored Solutions for Every Business Size

One of the defining features of MyGuava Business is its bespoke quality. The platform is designed to support businesses of every size and industry, offering flexibility that ensures no one is left behind. Start-ups and small businesses benefit from straightforward, easy-to-use tools that promote growth without unnecessary complexity.

Transparent and Competitive Pricing

At a time when hidden fees and unclear pricing structures are all too common, MyGuava Business stands apart with its transparent and competitive rates. Businesses can plan their budgets confidently, knowing there won’t be any unexpected costs. For small businesses, this affordability is an essential requirement.

Seamless Onboarding and User Experience

The platform’s user-friendly interface makes navigation intuitive, ensuring that even those without extensive technical expertise can get started quickly. Clear dashboards, always accessible customer support and step-by-step guidance make MyGuava Business a platform that any business can adopt with ease.

Comprehensive Product Offerings: Covering Every Aspect of the Financial Sector

MyGuava Business goes beyond traditional financial management by offering a diverse range of services that cover all payment needs, whether the business transacts in person or online. From business accounts simplifying cross-border payments to payment terminals, e-commerce solutions, cards, payment links and invoice creation, the platform provides businesses with versatile tools to seamlessly manage transactions.

Built In-House with Customer Needs in Mind

What truly sets MyGuava Business apart is that it is a comprehensive end-to-end payments solution provider – a direct result of its in-house development. Unlike many platforms that rely on third-party tools, every feature of MyGuava Business is purpose-built to meet the unique needs of its users.

A Vision for the Future of Business Finance

MyGuava Business is more than just a financial platform – it’s a partner in growth. By combining affordability, adaptability, and a customer-centric design, it offers businesses the tools they need to succeed in a rapidly changing world.

In a world where adaptability and efficiency are crucial, MyGuava Business is the financial partner every business deserves. Discover more at myguava.com/business.

Contact:
Nikki Suleymanova
Nigar.suleymanova@guavapay.com
07443322377

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