Singapore to build a platform for tokenized assets using blockchain

Tuesday 28 August 2018 00:52 CET | News

The Monetary Authority of Singapore (MAS) has teamed up with the Singapore Exchange (SGX) to create a secure platform for selling tokenized securities based on blockchain tech.

The partnership is supported by technology company Anquan, Deloitte and stock exchange operator Nasdaq and aims to develop a Delivery versus Payment (DvP) platform for tokenized assets, including tokenized digital currencies and securities assets. The DvP platform will be able to simultaneously transact the securities asset being traded with the funds being used to pay for it.

The work will be a part of Singapore’s Project Ubin, the nation’s ongoing blockchain initiative. Thus, the companies involved will examine Project Ubins existing protocols and determine how to leverage them for a DvP platform. 

Moreover, the participants plan to release a report by November 2018 explaining how to best launch a DvP system.

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Keywords: Monetary Authority of Singapore, SGX, MAS, Singapore, blockchain, tokens, project Ubin
Countries: World

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