Singapore Gov’t Develops Blockchain Based Security Token System

An automated Delivery versus Payment (DvP) platform has been jointly developed by the Monetary Authority of Singapore (MAS) and the Singapore Exchange (SGX). Its purpose is to allow the settlement of tokenized securities across various blockchain platforms.

In a joint release over the weekend the MAS and SGX stated “This will help simplify post-trade processes and further shorten settlement cycles,” The DvP system operates with payment and product changing hands simultaneously ensuring that securities are delivered only when payment is made according to reports.

The system has been developed along with technology partners Anquan, Deloitte and Nasdaq.

Prototypes of the DvP have already shown that settlements can be made in various digital tokens on different blockchain platforms.

An industry report detailing payment settlement using smart contracts has already been published by the MAS and SGX.

https://www.newsbtc.com/2018/11/12/singapore-develops-blockchain-based-security-token-settlement-system/