Overview
- DBS, OCBC and UOB completed interbank overnight lending using the first live trial issuance of Singapore dollar wholesale CBDC.
- MAS will trial issuing tokenised MAS bills next year and plans to expand the pilots to settle those bills using wholesale CBDC.
- A regulatory guide on tokenised capital markets products will be published this week as MAS works with international counterparts to align standards and support adoption.
- Draft legislation for stablecoins is being prepared with an emphasis on sound reserve backing and reliable redemption, and MAS cautions that unregulated stablecoins are unsuitable for large wholesale transactions.
- MAS is supporting industry trials under the Blue and Bloom initiatives to test tokenised bank liabilities and regulated stablecoins as settlement assets, with Chia Der Jiun stressing the need for interoperability, standardisation and a deep pool of safe money-like instruments.