Singapore to issue tokenized government bonds to major banks using CBDC

The Monetary Authority of Singapore (MAS) is leveraging its Central Bank Digital Currency (CBDC) to issue tokenized MAS Treasury Bonds (MAS
The government will promote a pilot project to issue "Bank Bills" to major banks. Specific details will be announced next year.
According to The Block on the 13th (local time), MAS's Chia Der Jun
In a speech at the Singapore Fintech Festival, Governor Jiun said,
"Kunka has already moved beyond the experimental stage and into the commercialization phase," he said. "There's no doubt that asset-backed tokens have 'left the lab,' but they're still at a critical point for mass adoption."
Chia added that while tokenization offers many advantages, such as 24-hour settlement, reduced intermediaries, and improved collateral efficiency, large-scale commercial deployment still faces structural challenges.
He also pointed out that Singapore's three major banks, DBS, OCBC and UOB, have launched a wholesale digital currency denominated in the Singapore dollar to facilitate overnight interbank payments.
The company also revealed that it had conducted a trial of overnight lending transactions. This trial is part of Singapore's strategy to expand "tokenized finance" based on highly secure settlement assets.
Regarding stablecoins, the MAS has finalized the relevant regulatory framework and is currently preparing a draft bill that reflects this.
The MAS defines stablecoins as "digital tokens for payments" and plans to have them denominated in Singapore dollars, US dollars, euros, and other currencies by August 2023.
The United States has announced a regulatory framework for single-currency stablecoins pegged to major currencies.