1 / 6

Bank of Singapore bets on tokenization

The Central Bank of Singapore will explore asset tokenization and DeFi together with JP Morgan, DBS Bank and Marketnode.

TronTRC20
Download Presentation

Bank of Singapore bets on tokenization

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Bank of Singapore bets on tokenization and will explore DeFi together with JP Morgan

  2. Bank of Singapore bets on tokenization The Central Bank of Singapore will explore asset tokenization and DeFi together with JP Morgan, DBS Bank and Marketnode. In the pilot, bonds and tokenized deposits will be added to a regulated liquidity pool. The announcement is timed to coincide with remarks made by Jamie Dimon, CEO of JP Morgan, who emphasised that investors need to get ready for the upcoming hurricane.

  3. Singapore Bank, Defi and JP Morgan According to MAS, tokenization is the process of using a smart contract on a blockchain to digitally represent assets or other objects of value. This enables the fractionalization and peer-to-peer trade of real economy and financial assets through the Internet. When employed in the context of financial services, these smart contracts allow for decentralised financing (DeFi Development Company).

  4. Singapore Bank, Defi and JP Morgan In DeFi, financial transactions, such as loans and trading activities, can be carried out on a blockchain, without the need for intermediaries. It could increase financial services' effectiveness, accessibility, and affordability.This will "boost financial market liquidity and enhance economic inclusion," according to MAS. With JP Morgan, the Singapore Central Bank will investigate asset tokenization and DeFi.

  5. Japan and the Web3 Japan's Prime Minister Opens To Cryptocurrency Tax Reform To Boost Web3 Growth. As Tim Alper reports in Cryptonews, Fumio Kishida told Parliament that Web3 could boost economic growth, suggesting he may be ready to push for business-friendly legal reform. Earlier in May, Kishida also spoke to British investors about Web3, the Metaverse, blockchain, and NFTs.

  6. Japan and the Web3 Japan recognizes stablecoins as digital money. The Parliament of Japan has approved a bill that recognizes stablecoins as digital money. In addition, it will allow its holders and investors the possibility of exchanging them for their nominal value. The Japan Financial Services Agency will legalize stablecoins issued by authorized entities, such as licensed banks or duly registered finance companies. The new law will take effect in one year.

More Related