Singapore Advances Stablecoin Regulation and Tokenization Trials
Singapore's Monetary Authority (MAS) is tightening oversight of stablecoins while pioneering experiments with tokenized financial instruments. Managing Director Chia Der Jiun unveiled plans to regulate stablecoin issuance and test blockchain-based settlement systems using central bank digital currency (CBDC).
Three major Singaporean banks—DBS, UOB, and OCBC—have already executed interbank transactions using a live Singapore dollar CBDC trial. The BLOOM initiative will expand these tests to include tokenized MAS bills settled with digital currency.
MAS has cultivated one of Asia's most dynamic FinTech ecosystems, supporting over 1,800 firms through regulatory sandboxes and innovation programs. The forthcoming tokenization guide signals Singapore's intent to provide clarity for institutional adoption of blockchain-based finance.
