Monetary Authority of Singapore: Will pilot tokenization of notes and introduce laws related to stablecoins.

ChainCatcher news, the top official of the Monetary Authority of Singapore (MAS) stated on Thursday that the Singapore Central Bank plans to advance the construction of a scalable and secure tokenization financial ecosystem. To this end, a pilot for the tokenization of MAS bond issuance will be launched next year, along with relevant laws to regulate stablecoins. MAS Director Chia Der Jiun pointed out at the Singapore FinTech Festival: “Tokenization has begun, but have asset-backed tokens reached 'escape velocity'? They have not yet reached that stage.” He stated that the MAS has been refining the details of the stablecoin regulatory framework and will subsequently draft relevant legislative proposals, with the core focus on “robust reserve assets support and reliable redemption mechanisms.” Chia Der Jiun also added that the MAS is simultaneously supporting various pilot projects under the “Blue Initiative,” which aims to explore the use of tokenized bank liabilities and regulated stablecoins for settlement.