Original Coverage & Source Attribution: fintechnews.sg
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The Monetary Authority of Singapore (MAS) plans to use wholesale central bank digital currency (CBDC) to settle tokenised MAS Bills.
MAS Managing Director Chia Der Jiun outlined the plans at the INSEAD Digital Finance & Agentic AI Summit on 9 October.
The initiative aims to bring tokenised assets and digital central bank money onto common infrastructure to support settlement finality.
MAS made wholesale Singapore dollar CBDC available through its Singapore dollar Test Network in 2025.
Its first successful trial involved the settlement of interbank overnight lending transactions between DBS, OCBC and UOB.
“As usage of private digital money scales, CBDCs will ultimately be needed to anchor monetary stability,”
Chia said.
Through its BLOOM initiative, MAS is working with the industry on domestic and cross-border settlement using tokenised bank deposits and regulated stablecoins.
The regulator has also consulted on legislative amendments to implement its Single-Currency Stablecoin framework, covering reserve backing, capital requirements, redemption and disclosure.
MAS Pushes for Wider Adoption of Tokenised Assets
The regulator is working to expand commercial tokenisation through Project Guardian, with adoption still largely confined to smaller ecosystems.
Its Global Layer One (GL1) initiative is also developing common standards to improve interoperability between digital financial networks.
MAS recently published Version 1.1 of its Safeguards for Agentic Finance at Runtime (SAFR) white paper.
It also released an open-source reference implementation to support controls over AI agents executing financial transactions.
Featured image: Edited by Fintech News Singapore, based on image by ahmadzada via Magnific
