OCBC Becomes First Singapore Bank to Use Blockchain for Intraday Lending
Fintech News
OCTOBER 30, 2024
By utilising blockchain technology, the exchange of cash and securities becomes near-instantaneous, a significant improvement over traditional repo markets where the process can take at least one business day. OCBC reportedly completed its first reverse repo transaction on 11 October 2024, with a maturity of less than 120 minutes.
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