Financial Institutions in Singapore Develop Blockchain Settlement System

The Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX) said on Sunday they have successfully developed Delivery versus Payment (DvP) capabilities for the settlement of tokenized assets across different blockchain platforms.

DvP system utilizes smart contracts to simplify post-trade processes and shorten the settlement cycle. According to Singapore’s Ministry of Communications and Information, this will help simplify post trade processes and further shorten settlement cycles.

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The DvP prototypes were developed with technology partners Anquan, Deloitte and Nasdaq.