CONNECT WITH US
Fintech

Fintech

MAS Plans Next Phase of Wholesale CBDC Settlement With Tokenised Bills

Fintech News Singapore logo

Published on

Add as a preferred source on Google
MAS Plans Next Phase of Wholesale CBDC Settlement With Tokenised Bills

The Monetary Authority of Singapore (MAS) plans to use wholesale central bank digital currency (CBDC) to settle tokenised MAS Bills.

MAS Managing Director Chia Der Jiun outlined the plans at the INSEAD Digital Finance & Agentic AI Summit on 9 October.

The initiative aims to bring tokenised assets and digital central bank money onto common infrastructure to support settlement finality.

MAS made wholesale Singapore dollar CBDC available through its Singapore dollar Test Network in 2025.

Its first successful trial involved the settlement of interbank overnight lending transactions between DBS, OCBC and UOB.

“As usage of private digital money scales, CBDCs will ultimately be needed to anchor monetary stability,”

Through its BLOOM initiative, MAS is working with the industry on domestic and cross-border settlement using tokenised bank deposits and regulated stablecoins.

The regulator has also consulted on legislative amendments to implement its Single-Currency Stablecoin framework, covering reserve backing, capital requirements, redemption and disclosure.

The regulator is working to expand commercial tokenisation through Project Guardian, with adoption still largely confined to smaller ecosystems.

Its Global Layer One (GL1) initiative is also developing common standards to improve interoperability between digital financial networks.

MAS recently published Version 1.1 of its Safeguards for Agentic Finance at Runtime (SAFR) white paper.

It also released an open-source reference implementation to support controls over AI agents executing financial transactions.

Featured image: Edited by Fintech News Singapore, based on image by ahmadzada via Magnific



Source link
Related Topics:Fintech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.