Today the Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX) announced they would work together on a settlement system for tokenized assets. Delivery versus Payment (DvP) involves the simultaneous exchange and settlement of a transaction. So the plan is to tokenize both currencies and securities assets to make this happen.
The initiative appointed three companies as technology partners: Anquan, Deloitte, and Nasdaq. MAS is both Singapore’s Central Bank and financial regulatory authority. Previously MAS ran Project Ubin which involved a Central Bank Digital Currency (CBDC) experiment using three different blockchain technologies.
The result was three separate sets of code using R3’s Corda, Hyperledger Fabric, and JP Morgan’s Quorum. MAS open sourced the code and the DvP project will also use this software.
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