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Singapore Deputy Prime sees “tremendous potential” in tokenization and DLT

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The Monetary Authority of Singapore (MAS) is preparing for the future of finance by exploring distributed ledger technology use cases, such as asset tokenization and cross-border payments, the city-state’s Deputy Prime Minister Lawrence Wong said on Thursday at an event organized by the central bank. 

See related article:  Filecoin service provider RRMine leaves China for Singapore

Fast facts

  • The MAS is “involved in a range of innovations that may bear fruit over the longer-term,” he said.
  • The central bank launched Project Guardian in May, an initiative that explores the potential of asset tokenization. 
  • MAS is also pursuing digital currency connectivity and participating in wholesale central bank digital currency projects for cross-border payments and settlements.  

See related article: Singapore’s DBS commits to crypto offerings despite slump: report

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  • Source: https://forkast.news/headlines/singapore-tokenization-dlt-potential/

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