Monetary authority of Singapore (MAS) and stock exchange of the country (SGX) has developed a settlement system licenzirovanie assets, able to work on different blockchains. About it reported in a press release.

The new system, operating on a “delivery versus payment”, using smart contracts to automate the post-trade operations, helping to reduce cycle time of settlement of transactions.

The prototype platform was developed with the participation of Nasdaq and Deloitte in the ongoing from November 2016 project Ubin under the leadership of MAS. In particular, this project aims to research the possibilities of technology distributed registry for payments, clearing and securities transactions.

ForkLog earlier reported that MAS intends to establish a dialogue with banks and cryptocurrency startups.