MAS & Standard Chartered Trial Tokenized Trade Finance Assets
(4 November 2022 – Singapore) The Monetary Authority of Singapore (MAS) reports that it is launching two new pilot projects led by Standard Chartered to explore the use of tokens in trade finance and wealth management.
Standard Chartered reports that digital assets are here to stay, and firmly believe the technology has immense potential to play a greater role in supporting the real economy.
“By transforming trade assets into transferable instruments, we aim to improve the accessibility to an asset class, which has largely been the domain of banks, with participation from a broader range of investors” commented Standard Chartered Global Head of Trade & Working Capital, Kai Fehr.
“Not only can we potentially narrow the USD1.7 trillion global trade finance gap, this also offers investors the option to balance their portfolio with a digital token that has traceable intrinsic value” Fehr added.
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