Singapore bank DBS uses DeFi to trade FX and state securities
Major Asian financial institution DBS Bank has applied DeFi technology for a project backed by the Monetary Authority of Singapore. DBS Bank, a major financial services group in Asia, is applying decentralized finance (DeFi) for a project backed by Singapore’s central bank.DBS has started a trading test of foreign exchange (FX) and government securities using permissioned, or private, DeFi liquidity pools, the firm announced on Nov. 2.The development is part of Project Guardian, a collaborative cross-industry effort pioneered by the Monetary Authority of Singapore (MAS). Conducted on a....
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Financial authorities in Singapore are taking steps toward increased oversight in the crypto space with the city-state’s central bank reportedly asking companies to provide additional information about their activities and assets. Ahead of a possible broadening of the applicable rules, the authority is trying to get a clearer idea of their financial state, knowledgeable sources say.
Singapore Regulators Send Crypto Firms Questionnaire, Expect Prompt Response
The Monetary Authority of Singapore (MAS) has sought to acquire detailed information from cryptocurrency firms....
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