Singapore: Adopted MAS project to support commercialisation of asset tokenisation

On 4 November 2024, the Monetary Authority of Singapore (MAS) announced projects to advance the commercialisation of asset tokenisation in financial services. The MAS will form commercial networks to improve liquidity in tokenised assets and expand the Global Layer One initiative to develop interoperable market infrastructures for cross-border transactions. The MAS aims to also introduce industry frameworks for tokenisation in debt and investment funds. Additionally, MAS facilitates access to a common settlement facility for tokenised assets, incorporating a Singapore dollar wholesale central bank digital currency (CBDC) test network. The initiatives aim to enhance the scalability and integration of tokenised assets in global financial markets.