Singapore is Ready to Settle Tokenized Assets across Various Blockchain Networks

The Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX) announced on Sunday the successful development of a Delivery versus Payment (DvP) solution that will enable the settlement of tokenized assets – both digital currencies and securities – across different blockchain platforms.

From a technical point of view, DvP is a settlement system where securities and money are exchanged simultaneously. Thus the process requires that payment must be made prior to or simultaneously with the assets delivery. MAS and SGX believe their latest move will make DvP procedure faster and more secure.

In a joint release published on the MAS official website, they claim that their blockchain-based solution is potentially able to simplify post-trade processes and shorten settlement cycles. The development of these DvP capabilities will effectively enable financial institutions and investors to carry out simultaneous exchange and cross-p…

This article appeared first on Cryptovest

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