ocbc

According to TheAsianBanker, OCBC Bank in Singapore and its asset management division Lion Global Investors have disclosed plans to issue a physical gold fund token, GOLDX Token, on the Ethereum and Solana chains. OCBC Bank will support the token issuance architecture design, while Lion Global Investors will provide the investment framework and governance structure for the underlying fund.

According to Jinshi Data, Christopher Wong, a strategist at OCBC Bank in Singapore, stated that as people expect the Middle East conflict to ease and the strength of the dollar has weakened, the safe-haven demand for gold has begun to re-emerge. This further proves that gold has not lost its appeal as a safe-haven asset. It was once pushed out of the market by the dollar, and now that pressure is easing.In the short term, gold prices may continue to be influenced by expectations of the Federal Reserve's policy path, the movement of the dollar, and changes in the geopolitical situation. However, this rebound indicates that price declines may still find support unless real yields rise significantly.

OCBC Bank analysts have raised their price forecast for gold, now expecting gold prices to reach $5,600 per ounce by the end of 2026. The bank's foreign exchange strategist Christopher Wong stated that this adjustment is due to the strong upward momentum of the safe-haven metal, prompting an increase from the previous forecast of $4,800.Wong noted that the rise in gold prices reflects recent developments and their persistence exceeding expectations, rather than a reassessment of underlying fundamentals. "What is evolving is the degree of allocation to gold, rather than the fundamental reasons for holding gold." Wong pointed out that rising government debt, geopolitical concerns, and policy uncertainty have significantly enhanced gold's structural position in investors' asset allocation. Gold is no longer merely a hedge against crises or inflation but is increasingly seen as a neutral, reliable store of value that can provide asset diversification.

According to Jin Ten, Vasu Menon, Managing Director of Investment Strategy at OCBC Bank, stated that besides the stock market, gold may also be a potential beneficiary of the U.S. government's restart. The end of the shutdown means that the U.S. government will be able to release delayed economic data. If the data shows a slowdown in economic growth, it may provide an earlier window for the Federal Reserve to ease policies, which could be interpreted by the market as a precursor to a low-interest-rate environment, benefiting gold.

ChainCatcher news, according to BusinessTimes, Singapore's Oversea-Chinese Banking Corporation (OCBC) announced the issuance of blockchain digital US commercial paper (USCP) with a scale of up to 1 billion USD. This batch of six-month notes utilizes tokenized securities and on-chain funds, and records and provides services on the blockchain. It is reported that the first batch of notes has been issued, with the investor being a qualified investment institution. OCBC did not disclose its specific name but stated that the exclusive dealer for this 1 billion USD blockchain digital US commercial paper is JPMorgan Chase.

ChainCatcher news, Singapore's second-largest bank, OCBC Bank, recently launched a blockchain-based customized corporate bond tokenization scheme aimed at helping corporate clients diversify their financial assets. The scheme allows corporate clients to invest in bonds starting from 1,000 Singapore dollars, with the ability to customize bond terms and interest rates according to their needs, with tokens referencing existing investment-grade bonds.This scheme is an innovative project developed by OCBC based on blockchain technology. Kenneth Lai, OCBC's Head of Global Markets, stated that the company will further expand its product line to cover more types of tokenized assets.

ChainCatcher news, according to techinasia, OCBC Bank and Ant International announced a strategic partnership aimed at leveraging tokenized deposits and utilizing advanced encryption technology and artificial intelligence to streamline cross-border fund settlements.It is reported that this collaboration will prioritize real-time payments between Singapore and Malaysia around the clock through Ant International's Whale platform, which uses blockchain technology, advanced encryption technology, and artificial intelligence to enhance the speed, efficiency, and transparency of cross-border transactions.

ChainCatcher news, according to Bloomberg, Singapore's second-largest bank, OCBC Bank, will completely stop processing transactions involving Russia to reduce risks related to global sanctions. According to informed sources, this measure will officially take effect on November 1, 2024.In recent weeks, OCBC Bank has notified all customer groups, including private banking clients, stating that due to operational challenges in managing regulatory compliance, the bank will implement this restriction. This decision covers all business units of OCBC Bank, including its private banking division.