Crypto

Monetary Authority of Singapore Pushes New Measures to Advance Tokenization

The Monetary Authority of Singapore (MAS) has reported a surge in interest in asset tokenization, particularly in areas such as fixed income, foreign exchange (FX), and asset management. According to Leong Sing Chiong, deputy managing director (Markets and Development) of MAS, there has been strong participation from financial institutions and policymakers in developing industry standards and risk management frameworks to support the commercial deployment of tokenized capital markets products.

Leong Sing Chiong stated, “We are encouraged by the keen participation from financial institutions and fellow policymakers to co-create industry standards and risk management frameworks to facilitate commercial deployment of tokenized capital markets products, and scale tokenized markets on an industry wide basis.”

Asset tokenization involves converting physical assets into digital tokens on a blockchain, allowing for increased liquidity, fractional ownership, and enhanced transparency in asset ownership. This innovative approach has the potential to revolutionize traditional financial markets by making them more accessible and efficient.

As the trend towards asset tokenization continues to grow, MAS remains committed to working with industry stakeholders to develop a robust regulatory framework that supports the growth of tokenized markets and ensures investor protection.

Carmen Brooke Martin

Finance Analyst Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry. What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content. As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.

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