The Monetary Authority of Singapore (MAS) has announced that it has succeeded in conducting wholesale transactions launching with a focus on exploring both digital assets and the Decentralized Finance (DeFi) ecosystem.
The concluded pilot program accounts for one of the apex banking regulators of testing the application of asset tokenization and DeFi across a broader range of use cases in the financial sector.
As revealed by the MAS, mainstream financial services players including DBS, JPMorgan Chase & Co, and SBI Digital Asset Holdings conducted foreign exchange and government bond transactions against liquidity pools comprising tokenized Singapore Government Securities Bonds, Japanese Government Bonds, Japanese Yen (JPY) and Singapore Dollar (SGD).
A major highlight of the pilot test as confirmed by JPMorgan’s Ty Lobban is that the MAS built the test environment around two of the industry’s most used blockchain protocols…
