As a taste … – Is the first time! They mark us forever and leave us dreaming, speechless in front of the field of possibilities that opens up to us. It’s kind of like this feeling we get today when we discover this new information: the Monetary Authority of Singapore (MAS) led the first industrial pilot for digital assets and decentralized finance. All this under the supervision of the major international banks that they are increasingly interested in tokenization.
Institutions are grappling with the tokenization of assets
Cryptocurrencies still repel a large majority of the population, whether they are educated in the economic system or not. The bankers (central and otherwise) hold back the four ironsever-increasing adoption of Bitcoin and Ethereum. Indeed, the attractiveness of returns and the speed of transactions are all points that undermine the current system, which is forced to adapt. And to bring the positive where it is.
Although crypto assets have different risks and limitations, they bring out the issue of the tokenization of our exchanges. A question that the Monetary Authority of Singapore is trying to answer. And the best way is to get your hands straight into the fat.
The MAS then carried out, as a world preview, the simulation of exchange government bonds with liquidity pools including Singapore government bonds, Japanese government bonds, Japanese yen and Singapore dollar “.
This is the story of JPMorgan, Aave and the Monetary Authority of Singapore
Not a bad start for a joke, right? Except this time, it’s not. The local monetary policeman just unveiled this new nature trade on his website. Singapore is currently exploring the possibilities of DeFi and has hired JPMorgan, Deutsche Bank and SBI Digital to carry out its transactions. These operations are carried out within the project ” Keeper “?
And which blockchain will you tell me about? Because there is one thing that does not transpire in this official note: the infrastructure used for these transfers. We will therefore declare MAS in good faith oblivion when we mention the DeFi protocols polygon And Ave which allowed this exchange to go like clockwork. Which is great news for the ecosystem as a whole.
” A “live” multi-currency transaction involving tokenized deposits in JPY and SGD was successfully completed. In addition, a simulated exercise was carried out for the purchase and sale of token government bonds “.
If there is currently little chance that our beloved cryptocurrencies will be adopted as well as by all societies and nations, it is a safe bet that they will. evolve our uses, our current ways of communicating, consuming, controlling online. A vast field of possibilities, which one hardly dares to dream of, after this first time that went smoothly.
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