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.
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- 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.
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