The Monetary Authority of Singapore (MAS) is collaborating with Deutsche Bundesbank to develop digital asset settlement.

The Monetary Authority of Singapore (MAS) and the German Federal Bank have signed a Memorandum of Understanding (MOU) to collaborate on cross-border digital asset settlement. The agreement aims to develop new settlement solutions to reduce the cost and processing time of transfers between Singapore and Germany, and to establish common standards for payments, foreign exchange, and securities flows involving tokenized assets.