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Laxman Pai, Opalesque Asia: Singapore Exchange Limited (SGX), along with the Monetary Authority of Singapore (MAS), have succesfully developed Delivery versus Payment (DvP) capabilities for the settlement of tokenised assets across different blockchain platforms.
According to a SGX release, the data on the trial that began in August, shortly after MAS and SGX had partnered with U.S. stock market Nasdaq, "big four" consulting company Deloitte, and Singaporean tech company Anquan.
DvP is a settlement procedure where securities and monies are simultaneously exchanged to ensure the delivery of securities occurs only if the corresponding payment is made. This will help improve operational efficiency and reduce settlement risks.
"This project has demonstrated the value of blockchain technology and the benefits it can bring to the financial industry in the short to medium term," MAS chief fintech officer Sopnendu Mohanty said.
"The concept of asset tokenisation, as well as other learnings gleaned from this project, can potentially be applied to a broad spectrum of the economy, creating a whole new world of opportunities," Sopnendu added.
"The collaboration also demonstrated that DvP settlement finality, interledger interoperability and investor protection can be achieved through solutions designed and built on blockchain technology," said MAS and SGX in the release.
This collaboration was announced earlier in August, as one of two spin-offs from Project Ubin. ...................... To view our full article Click here
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