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Market

MAS Launches First Pilot Of Digital Asset Industry And DeFi

November 2, 2022 - Around 2 mins mins to read
The Monetary Authority of Singapore (MAS) announces the first pilot under the MAS Guardian Project framework to explore potential DeFi applications in the wholesale funding markets having completed the first in-person transactions.
MAS

On November 2, the Monetary Authority of Singapore (MAS) announced the pilot implementation of a digital asset and decentralized finance (DeFi) service and the first industry pilot project of Project Guardian.

The project to explore potential DeFi applications in the wholesale financial market has completed the first live transactions, many industry pilot programs have been launched to test asset encryption and DeFi for broader use cases in the financial sector.

In the industry’s first round of testing, DBS, JPMorgan and SBI Digital Asset Holdings executed foreign exchange transactions against a liquidity pool consisting of tokenized Singapore Government Bonds, Japanese Government Bonds, Yen Japanese (JPY) and Singapore Dollar (SGD) and government bonds.

MAS

Today also saw two crypto companies Paxos and Circle receive approval from MAS to provide digital payment token products, cross-border and domestic transfer services in the country.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

CoinCu News

Market

MAS Launches First Pilot Of Digital Asset Industry And DeFi

The Monetary Authority of Singapore (MAS) announces the first pilot under the MAS Guardian Project framework to explore potential DeFi applications in the wholesale funding markets having completed the first in-person transactions.
MAS

On November 2, the Monetary Authority of Singapore (MAS) announced the pilot implementation of a digital asset and decentralized finance (DeFi) service and the first industry pilot project of Project Guardian.

The project to explore potential DeFi applications in the wholesale financial market has completed the first live transactions, many industry pilot programs have been launched to test asset encryption and DeFi for broader use cases in the financial sector.

In the industry’s first round of testing, DBS, JPMorgan and SBI Digital Asset Holdings executed foreign exchange transactions against a liquidity pool consisting of tokenized Singapore Government Bonds, Japanese Government Bonds, Yen Japanese (JPY) and Singapore Dollar (SGD) and government bonds.

MAS

Today also saw two crypto companies Paxos and Circle receive approval from MAS to provide digital payment token products, cross-border and domestic transfer services in the country.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

CoinCu News

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