Singapore Financial Authority Announces New Platform for Liquidation of Tokenized Assets
The Monetary Authority of Singapore (MAS) and the Singapore Exchange (SGX) recently announced the completion of its Delivery vs Payment (DvP) platform which will be used for the liquidation of tokenized assets in different blockchains.
DvP was developed using a Stablecoin paired to the Singapore Dollar to test the connection of the banking systems to the DLT while also linking MAS’s electronic payment system to the DLT platform. The process will allow for automatic transactions that have greater transparency and privacy between banks.
The platform, which was developed mainly by Anquan, Deloitte, and Nasdaq, is expected to be the one of the most innovative platforms adapted to crypto assets that can be used with existing business and financial models in the country.
Source: Crypto Coin