Singapore to trial tokenized bills settled with CBDC
Singapore's MAS will trial issuing tokenized bills settled via wholesale CBDC with primary dealers next year.Summary
The Monetary Authority of Singapore (MAS) announced plans to trial the issuance of tokenized MAS bills to primary dealers, which will be settled using central bank digital currency (CBDC); details are expected next year. MAS Managing Director Chia Der Jiun stated that while asset-backed tokenization has moved beyond experimentation into commercial settings, it has not yet achieved "escape velocity" due to structural hurdles. Furthermore, Chia mentioned that three Singapore banks (DBS, OCBC, and UOB) successfully conducted interbank overnight lending using the wholesale CBDC in a separate trial. Regarding stablecoins, MAS has finalized its regulatory regime, emphasizing sound reserve backing and redemption reliability, and warned against unregulated stablecoins that have a history of failing to maintain their pegs.
(Source：The Block)