Of the Central Bank of Singapore engages in partnership with Deloitte and Nasdaq for the settlement of the industry of cryptocurrency
The Central Bank of Singapore has announced the signing of an agreement with several large companies to facilitate the settlement of the cryptocurrency, according to a press release on Friday, August 24.
Through its integrated design Project Ubin blockchain monetary authority of Singapore (MAS) collaborated with the Singapore exchange (SGX) and Anquan, Deloitte and Nasdaq to provide improvements to the regulatory aspects.
As reported by Cointelegraph publisher, together the parties will create the possibility of “Delivery versus payment” (DvP) … for the settlement of a cryptocurrency blockchain in different platforms”, the latter three companies are acting as technical partners.
“This initiative will implement a blockchain technology for efficient binding transfer of funds and transfer of securities, eliminating the risk of buyers and sellers in the process DvP”, — said the head of the SGX technology.
“This joint innovation brings together many players to implement the real opportunities that will benefit the ecosystem”.