Asian banking giant DBS Group has begun testing the use of decentralized finance (DeFi) in a project backed by the Central Bank of Singapore.
DBS 2 November Using DeFi liquidity pools, the press release published on its official website on FX and government bonds announced that it will test its trade. your test Financial Authority of Singapore (MAS) a collaborative cross-industry effort led by Project Guardian’s reported to be part of it.
Singapore under Project Guardian Singapore government bonds (SGS), Singapore dollar (SGD), Japanese government bonds and Japanese Yen (JPY) tokenized It aims to conduct trade on public networks. DBS believes that this venture has multiple financial assets and markets. better liquidity He stated that it could potentially transform existing trade processes by providing
Han Kwee Juan, Head of Strategy, DBSMore from Project Guardian fast and transparent besides the trade low compromise risks which will provide benefits such as global corporate liquidity pools He said he thought he had laid the foundation. Also, smart contracts KYC/AML if designed in accordance with the procedures extremely safe also underlined that
kwee, to high liquidity investors of markets that have to attract more drawing attention to the fact that foreign currency and government securities are currently over-the-counter markets with multiple intermediaries that it is traded in the reconciliation processes to the roughness stated why.