Singapore to pilot tokenized government bonds settled via CBDC

The Monetary Authority of Singapore (MAS) plans to launch a pilot program next year to issue tokenized government securities, known as MAS Bills, that will be settled using a wholesale central bank digital currency (CBDC), The Block reported. Speaking at the Singapore FinTech Festival, MAS Managing Director Chia Der Jiun confirmed the pilot is scheduled for next year. He added that asset tokenization is moving beyond the experimental phase and into commercial application.