Understanding The Significance Of Singapore’s MAS And SGX Applying Blockchain for Settlement Of Tokenized Assets


MAS And The Singapore Exchange, SGX, Have Implemented The Blockchain Technology For The Successful Settlement of the Tokenized Asset

It is evident that the blockchain technology, which is the current underlying technology that has backed the successful Bitcoin, is gradually growing across the globe.

As a result, several exchanges have gone ahead to leverage on this new technology it is the likes of MAS, Monetary Authority of Singapore, and SGX, which is the Singapore Exchange. The primary goal behind these institutions is to ensure they have been able to provide easy trading to take place between different blockchain platforms.

With this in place, there should be easy trade taking place between the tokenized asset across the different blockchains in the market.

Just A Brief On the Report That Was Presented

– The SGX and the MAS have been able to successfully develop the DvP that will be used for the tokenized assets.

– The DvP has been able to create one of the major technology partners, this is the likes of Nasdaq, Anquan and not forgetting Deloitte.

– There was a joint report that was published on the settlement of the DvP, which was then published by SGX together with MAS with a smart contract.

According to the report that was presented, both SGX and MAS will be facilitating the DvP, Delivery vs. Payment, which will be used in the cross settlement of digital security. At the same time securities will be sold and even bought through the smart contracts over the different platforms that have been created on the blockchain technology.

But this is not all; it will also allow corporate investors and Fintech that will aid in the successfully trade exchange and settlements. With this process being put in place it should be able to reduce the current settlement risk that exists while still being able to increase the operational efficiency.

Some Positive Statements From the Project

According to the chief officer of MAS, Sopendu Monhanly, he firmly believes that the blockchain technology together with the asset tokenization has been able to fuel the new kind of innovation that is taking place globally. It is clear the project they have gotten into is demonstrating the benefits and the value that the blockchain technology is able to bring to the financial industry, this is both in the medium and short-term period.

He goes on to say that the concept that surrounds asset tokenization together with other learnings they have come across during the development of this project can easily be applied on a broader spectrum of the economy. Thus, this will be able to create many opportunities for people around the globe.

The head of Technology at the SGX, Ms. Tinku Gupta, wet ahead also to appreciate the initiative, as she is pleased to be among the people who are able to drive the industry effort that will accelerate the innovation that is taking place in the marketplace. SGX has been able to design a very unique methodology that will be in a position to enable real-world interoperability of the different platforms.

This is not all as it will also allow some simultaneous exchanges to take place between the securities and digital tokens within the market.

The DvP

It has been designed to be a process where the buyer is able to get some money for the security just before the asset has been released. Both companies, SGX and MAS, are ensuring they leverage on the blockchain technology to provide that the DvP has been made efficient and secure for use.

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