Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » MAS Trials Blockchain System to Study Advantages & Risks of DeFi

MAS Trials Blockchain System to Study Advantages & Risks of DeFi

Kelly Cromley by Kelly Cromley
May 31, 2022
in Market News, News
Reading Time: 3 mins read
0

As more people in Singapore become interested in cryptos and other elements of the decentralized finance (DeFi) space, the officials in Singapore are maintaining an increasingly watchful eye on initiatives of this kind and determining how they can enforce security to ensure the various stakeholders involved.

Deputy Prime Minister (DPM) Heng Swee Keat announced the start of a new blockchain initiative by the Singapore central bank on Tuesday (31 May), during the Asia Tech x Singapore Summit. The initiative, which will be known as Project Guardian, will give the Monetary Authority of Singapore (MAS) the opportunity to investigate how it can take advantage of the benefits of DeFi while also examining the steps that are necessary to protect users and reduce the risks that are associated with it.

As per the Malaysian Accounting Standards Board (MAS), the purpose of Project Guardian was to “manage the risk of financial stability and integrity” while investigating the viability of asset tokenization and decentralized finance.

  • Tokenization: Using a smart contract, the practice of digitally recording assets or objects of value on a blockchain.
  • DeFi: Operations in financial assets that may be carried out independently on a blockchain and do not need the involvement of middlemen.

The purpose of Project Guardian is to create and test application cases in four different categories, namely:

  • Open and interoperable platforms.
  • Trust anchors that are responsible for screening, verifying, and issuing certificates to organizations that want to partake in DeFi procedures.
  • Asset tokenization
  • The incorporation of regulatory protections and restrictions into decentralized financial infrastructure protocols.

DBS Bank, JP Morgan, and Marketnode will be in charge of the first industry trial being conducted as part of Project Guardian. Through the establishment of a “permissioned liquidity pool” consisting of tokenized bonds and deposits, the project will investigate the possible uses of DeFi inside wholesale finance markets.

Moving ahead, the MAS is also inviting more industry efforts that address the four areas of interest that are at the core of the Project Guardian project.

During his remarks at the summit, the Chief FinTech Officer of the MAS, Mr. Sopnendu Mohanty, said that the Singaporean central bank is keeping an eye on the developments and expansions occurring in the digital asset market. At the same time, they are investigating the possibilities and dangers that may be presented to stakeholders by the new technology.

The Deputy Prime Minister and Coordinating Minister for Economic Policies, Heng, shared his opinions and echoed those of the Prime Minister.
Mr. Heng said that bitcoin assets had the ability to revolutionize the future of finance, despite the fact that he referred to the industry as a “very dangerous environment.”

As a result, Mr. Heng said that Singapore’s rules need to encourage innovation while also addressing the dangers connected with crypto assets.

The advice, on the other hand, is less complicated for individual retail investors. Avoid investing your money in cryptocurrencies, particularly if you are a retail investor. This point can’t be emphasized enough by us.

Heng also brought up the recent scandal that surrounded the LUNA ecosystem, which resulted in a great number of people incurring enormous losses and, in some instances, even losing their life savings.

As more people in Singapore experiment with cryptocurrencies and investigate the DeFi area, it is possible that some kind of regulation may become essential to protect the interests of the many parties.

Even while these kinds of financial services do come with their fair share of dangers, we are relieved that the regulatory bodies are addressing it with an open mind.

We have high hopes that the new effort would make it possible for the government to have a deeper understanding of the decentralized space and create rules that will safeguard the many stakeholders in the nation.

Previous Post

Shiba Inu Rallies on Token Burning, While Cardano’s Transaction Volumes Surges to Second Place

Next Post

Brazil Unveils Blockchain Network to Track Public Resources

Related Posts

caffeine ai internet computer

Caffeine Empowers Web3 App Creation Through Natural Language

by Kelly Cromley
Jul 14, 2025
0

Caffeine, an innovative platform built on the Internet Computer (ICP) blockchain, is reshaping the landscape of decentralized application (dApp) development...

mint

Mint.io Redefines Web3 Gaming with AI-Powered Experiences

by Kelly Cromley
Jul 14, 2025
0

Serial entrepreneur and global strategist Zak Manhire has unveiled Mint.io, a Web3 gaming platform that aims to steer the industry...

dcs card centre

DCS Card Centre Charts a New Path as Global Payments Enabler

by Kelly Cromley
Jul 14, 2025
0

DCS Card Centre, long known for its association with the Diners Club brand, is undergoing a substantial transformation in its...

AGII

AGII Unveils Lightweight Modules to Boost Smart Contract Speed

by Kelly Cromley
Jul 14, 2025
0

AGII, a platform specializing in AI-driven Web3 infrastructure, has introduced a new suite of lightweight modules designed to elevate the...

metabora partners with line next

METABORA Joins Forces with LINE NEXT to Boost Web3 Gaming

by Kelly Cromley
Jul 14, 2025
0

METABORA, an established global player in casual game development and blockchain-based project operations, has formed a strategic alliance with LINE...

coinbase partners with perplexity ai

Coinbase Taps Perplexity AI to Deliver Smart Crypto Insights

by Kelly Cromley
Jul 14, 2025
0

Coinbase has entered into a strategic collaboration with Perplexity AI to provide users with real-time cryptocurrency market data through artificial...

Next Post
Brazil Unveils Blockchain Network to Track Public Resources

Brazil Unveils Blockchain Network to Track Public Resources

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Hyper Foundation Launched to Boost Hyperliquid Blockchain Development

    by Kelly Cromley
    Oct 15, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025

Recent News

caffeine ai internet computer
Market News

Caffeine Empowers Web3 App Creation Through Natural Language

by Kelly Cromley
Jul 14, 2025
mint
Market News

Mint.io Redefines Web3 Gaming with AI-Powered Experiences

by Kelly Cromley
Jul 14, 2025
dcs card centre
Market News

DCS Card Centre Charts a New Path as Global Payments Enabler

by Kelly Cromley
Jul 14, 2025
AGII
Market News

AGII Unveils Lightweight Modules to Boost Smart Contract Speed

by Kelly Cromley
Jul 14, 2025
metabora partners with line next
Market News

METABORA Joins Forces with LINE NEXT to Boost Web3 Gaming

by Kelly Cromley
Jul 14, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree