Singapore to trial CBDC-settled government bills, advancing financial modernization.

The Monetary Authority of Singapore (MAS) will trial tokenised government bills settled via central bank digital currency (CBDC), building on a successful interbank lending trial involving DBS, OCBC, and UOB. The initiative, part of the Blue Initiative, aims to modernise financial infrastructure, improve efficiency, and enhance transparency. MAS also plans to release draft stablecoin regulations and a guide for tokenised capital markets products, while working with global regulators to align standards. More details will be shared next year.