As a taste… – It’s the first time! They mark us forever and leave us daydreaming, open-mouthed before the field of possibilities that opens up to us. It is a small sensation that he provided thanks to the discovery of new information: the Monetary Authority of Singapore (MAS) mentioned the first industrial pilot for digital activities and decentralized finance. All this under the supervision of major international banks which increasingly interested in tokenization.
Institutions are against the tokenization of activities
Cryptocurrencies still refute a large majority of the population, whether educated or not in the economic system. The bankers (central or not) curb the four ironsever-increasing adoption of Bitcoin and Ethereum. Indeed, the attractiveness of yields and the speed of transactions are so many points that are undermining the current system, which is forced to adapt. And to take the positive where it is.
Although crypto assets present several risks and limitations, they bring out the question of the tokenization of our exchanges. A question that the Monetary Authority of Singapore is trying to answer. And, the best way is to put your hands directly in the grease.
The MAS therefore functioned, for a world first, the simulation of ” Changing government bonds against liquidity pools including Singapore government bonds, Japan government bonds, Japanese yen and Singapore dollar “.
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This is the story of JPMorgan, Aave and the Monetary Authority of Singapore
Not a bad start to a joke, right? Except this time, it’s not. The policeman of the local currency has just revealed this exchange of a new nature on son site. Singapore is currently exploring DeFi possibilities and mandated by JPMorgan, Deutsche Bank as well as SBI Digital to carry out their transactions. These operations take place within the framework of the project “ Guardian ” ?
And on which blockchain will you tell me? It seems that we have already chosen who and does not transpire in this official note: the infrastructure used for these transfers. We will therefore plead good faith oblivion on the part of MAS, when quoting DeFi protocols polygonal and Aave which allows this exchange to go like clockwork. Which is great news for the ecosystem as a whole.
” A “live” multi-device transaction, involving tokenized deposits in JPY and SGD to this success. In addition, an exercise simulated this realization involving the purchase and sale of symbolic government bonds”.
If now there is little chance that our cryptos will be adopted as is by all corporations and nations, it is already strong to give birth to them evolution of our uses, our current ways of communicating, consuming, checking online. A vast field of possibilities, which one hardly dares to dream of, after this first time deployed without a hitch.
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