UPDATE: MAS_sg announced a pilot with StanChart to look at tokens in trade finance, and another with HSBC, UOB and Marketnode to look at tokenization of wealth management products. By parikshitm899
The Monetary Authority of Singapore said that it is starting two new pilot projects to explore the use of tokens in trade finance and wealth management.
The first pilot is being lead by Standard Chartered to explore tokens for trade finance, and another pilot to look at tokenisation of wealth management products. The wealth management pilot involves HSBC , UOB working with Marketnode, a digital asset platform built by the Singapore Exchange and Temasek.
“By transforming trade assets into transferable instruments, we aim to improve the accessibility to an asset class – which has largely been the domain of banks – with participation from a broader range of investors," said Kai Fehr, global head of trade and working capital at Standard Chartered."Not only can we potentially narrow the $1.
“We wanted to show it was possible to tokenize government securities and cash within a DeFi liquidity pool,” said Han. “Then using an AMM, and solving for that with price oracles and market data streaming services from Bloomberg or Refinitiv, we wanted to create an institutional-grade DeFi venue which regulators would be comfortable with.”Updates headline and story throughout, adds new information.
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