Tuesday, 21 May 2019

Singapore's Exchange and Monetary Authority develop blockchain settlement system

Singapore Exchange (SGX) together with the country’s Monetary Authority (MAS) have developed a settlement system for tokenized assets that can work across different blockchains.
The newly completed delivery versus payment (DvP) system utilizes smart contracts to simplify post-trade processes and shorten the settlement cycle. It aims to help financial institutions carry out the simultaneous exchange and final settlement of tokenized digital currencies and securities as required under DvP.

Prototypes for the platform were developed in conjunction with Nasdaq and Deloitte. The new system is also an extension of Project Ubin, which started life in November 2016 as a collaborative project by MAS and Singapore’s financial services industry to explore blockchain tech for clearing and settlement of payments and securities.

source: thepaypers.com 
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