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The Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX) have announced the successful development of Delivery versus Payment (DvP) capabilities for the settlement of tokenized assets across different blockchain platforms, aiming to simplify post-trade processes and shorten settlement cycles.

“This project has demonstrated the value of blockchain technology and the benefits it can bring to the financial industry in the short to medium term,” said MAS Chief Fintech Officer Sopnendu Mohanty.

The prototype created with the help of Anquan, Deloitte, and Nasdaq shows that financial institutions and corporate investors can carry out the simultaneous exchange and final settlement of tokenized digital currencies and securities assets on different blockchain platforms. It is considered that the ability to perform these activities simultaneously improves operational efficiency and reduces settlement risks.

Delivery versus Payment (DvP) is a term used for a securities industry settlement procedure in which the buyer's payment for securities is due at the time of delivery. Usually, it takes 3 days but with the help of blockchain, settlements can become much faster.

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