The Monetary Authority of Singapore will promote tokenization in the financial services sector.

The Monetary Authority of Singapore (MAS) has announced plans to promote tokenization in the financial services sector. The specific plans include establishing a business network to deepen the liquidity of tokenized assets; developing a market infrastructure ecosystem; facilitating an industry framework for the implementation of tokenized assets; enabling tokenized assets to utilize common settlement facilities; and enhancing the liquidity of tokenized assets through the formation of a business network.