CINXE.COM
<!doctype html> <html lang="en"> <head> <meta charset="UTF-8" /> <link href="/favicon.ico" rel="icon" type="image/x-icon" /> <meta content="width" name="MobileOptimized" /> <meta content="true" name="HandheldFriendly" /> <meta content="width=device-width, initial-scale=1" name="viewport" /> <meta content="ie=edge" http-equiv="x-ua-compatible" /> <script> // Initialize the google variables. var googletag = googletag || {}; googletag.cmd = googletag.cmd || []; // Add a place to store the slot name variable. googletag.slots = googletag.slots || {}; </script> <title data-rh="true">MAS to drive digital assets trading, announces plans for more tokenisation</title><meta data-rh="true" name="description" content="SINGAPORE’S central bank on Monday (Nov 4) said that asset tokenisation across financial services is reaching an “inflexion point”, as it announced plans to drive adoption of the process in this industry."/><meta data-rh="true" name="robots" content="index, follow, max-image-preview:large"/><meta data-rh="true" name="article:title" content="MAS to drive digital assets trading, announces plans for more tokenisation"/><meta data-rh="true" name="article:description" content="SINGAPORE’S central bank on Monday (Nov 4) said that asset tokenisation across financial services is reaching an “inflexion point”, as it announced plans to drive adoption of the process in this industry."/><meta data-rh="true" name="article:published_time" content="2024-11-04T17:46:50+08:00"/><meta data-rh="true" name="created" content="1730713610"/><meta data-rh="true" name="article:modified_time" content="2024-11-04T17:46:50+08:00"/><meta data-rh="true" name="updated" content="1730713610"/><meta data-rh="true" name="article:articleid" content="5293777"/><meta data-rh="true" name="articleid" content="5293777"/><meta data-rh="true" name="article_id" content="5293777"/><meta data-rh="true" name="article_tags" content="monetary authority of singapore,central bank digital currencies (cbdcs),tokenisation"/><meta data-rh="true" name="article:sph-keywords" content="Monetary Authority of Singapore,Central Bank Digital Currencies (CBDCs),tokenisation"/><meta data-rh="true" name="article:author" content="Therese Soh"/><meta data-rh="true" name="author" content="Therese Soh"/><meta data-rh="true" name="article:sph-accessflag" content="0"/><meta data-rh="true" name="article:pageclass" content="article"/><meta data-rh="true" name="google-site-verification" content="64YzaSIKUvOcgG1DccSNNzlWDqXwjSx4lDDgbgtDLJE"/><meta data-rh="true" name="format-detection" content="telephone=no"/><meta data-rh="true" name="article:category_id" content=""/><meta data-rh="true" name="article:category" content="Wealth"/><meta data-rh="true" property="og:site_name" content="The Business Times"/><meta data-rh="true" property="og:type" content="article"/><meta data-rh="true" property="og:url" content="https://www.businesstimes.com.sg/wealth/crypto-alternative-assets/mas-drive-digital-assets-trading-announces-plans-more-tokenisation"/><meta data-rh="true" property="og:title" content="MAS to drive digital assets trading, announces plans for more tokenisation"/><meta data-rh="true" property="og:description" content="SINGAPORE’S central bank on Monday (Nov 4) said that asset tokenisation across financial services is reaching an “inflexion point”, as it announced plans to drive adoption of the process in this industry. Read more at The Business Times."/><meta data-rh="true" property="og:image" content="https://cassette.sphdigital.com.sg/image/businesstimes/bfceb6d1095c84b741a63f9c56f77dc2d1f18282a6c42b857fad05e4d4954abb"/><meta data-rh="true" property="og:image:width" content="1200"/><meta data-rh="true" property="og:image:height" content="630"/><meta data-rh="true" property="og:image:alt" content="Among MAS' new initiatives is supporting industry efforts to build commercial networks for payments, capital raising, and secondary trading of tokenised assets. "/><meta data-rh="true" property="fb:admins" content="100008016031098"/><meta data-rh="true" property="fb:pages" content="288031731262011"/><meta data-rh="true" property="fb:app_id" content="328386607332790"/><meta data-rh="true" property="twitter:card" content="summary_large_image"/><meta data-rh="true" property="twitter:site" content="@BusinessTimes"/><meta data-rh="true" property="twitter:title" content="MAS to drive digital assets trading, announces plans for more tokenisation"/><meta data-rh="true" property="twitter:url" content="https://www.businesstimes.com.sg/wealth/crypto-alternative-assets/mas-drive-digital-assets-trading-announces-plans-more-tokenisation"/><meta data-rh="true" property="twitter:description" content="SINGAPORE’S central bank on Monday (Nov 4) said that asset tokenisation across financial services is reaching an “inflexion point”, as it announced plans to drive adoption of the process in this industry. "/><meta data-rh="true" property="twitter:image" content="https://cassette.sphdigital.com.sg/image/businesstimes/bfceb6d1095c84b741a63f9c56f77dc2d1f18282a6c42b857fad05e4d4954abb"/><meta data-rh="true" property="twitter:image:alt" content="Among MAS' new initiatives is supporting industry efforts to build commercial networks for payments, capital raising, and secondary trading of tokenised assets. "/><meta data-rh="true" property="twitter:app:country" content="US"/><meta data-rh="true" property="twitter:app:id:iphone" content="531275824"/><meta data-rh="true" property="twitter:app:url:iphone" content="com.sph.bt://url=https://www.businesstimes.com.sg/wealth/crypto-alternative-assets/mas-drive-digital-assets-trading-announces-plans-more-tokenisation"/><meta data-rh="true" property="twitter:app:id:ipad" content="531283825"/><meta data-rh="true" property="twitter:app:url:ipad" content="com.sph.bt://url=https://www.businesstimes.com.sg/wealth/crypto-alternative-assets/mas-drive-digital-assets-trading-announces-plans-more-tokenisation"/><meta data-rh="true" property="twitter:app:id:googleplay" content="com.ps.bt"/><meta data-rh="true" property="twitter:app:url:googleplay" content="com.sph.bt://url=https://www.businesstimes.com.sg/wealth/crypto-alternative-assets/mas-drive-digital-assets-trading-announces-plans-more-tokenisation"/><meta data-rh="true" property="al:ios:url" content="https://www.businesstimes.com.sg/wealth/crypto-alternative-assets/mas-drive-digital-assets-trading-announces-plans-more-tokenisation"/><meta data-rh="true" property="al:ios:app_store_id" content="531275824"/><meta data-rh="true" property="al:ios:app_name" content="Business Times"/><meta data-rh="true" property="al:android:url" content="https://www.businesstimes.com.sg/wealth/crypto-alternative-assets/mas-drive-digital-assets-trading-announces-plans-more-tokenisation"/><meta data-rh="true" property="al:android:package" content="com.ps.bt"/><meta data-rh="true" property="al:android:app_name" content="The Business Times"/><meta data-rh="true" property="al:web:url" content="https://www.businesstimes.com.sg/wealth/crypto-alternative-assets/mas-drive-digital-assets-trading-announces-plans-more-tokenisation"/><meta data-rh="true" name="grapeshot_tag" id="grapeshot" data-testid="grapeshot" content=""/><link data-rh="true" rel="preconnect" href="https://dev.visualwebsiteoptimizer.com"/><link data-rh="true" rel="alternate" href="android-app://com.ps.bt/https/www.businesstimes.com.sg/wealth/crypto-alternative-assets/mas-drive-digital-assets-trading-announces-plans-more-tokenisation"/><link data-rh="true" rel="canonical" href="https://www.businesstimes.com.sg/wealth/crypto-alternative-assets/mas-drive-digital-assets-trading-announces-plans-more-tokenisation"/><link data-rh="true" rel="shortlink" href="https://www.businesstimes.com.sg/article/5293777"/><script data-rh="true" type="text/javascript" id="vwoCode" async="true"> window._vwo_code || (function() { var account_id=786877, version=2.1, settings_tolerance=2000, hide_element='body', hide_element_style = 'opacity:0 !important;filter:alpha(opacity=0) !important;background:none !important', /* DO NOT EDIT BELOW THIS LINE */ f=false,w=window,d=document,v=d.querySelector('#vwoCode'),cK='_vwo_'+account_id+'_settings',cc={};try{var c=JSON.parse(localStorage.getItem('_vwo_'+account_id+'_config'));cc=c&&typeof c==='object'?c:{}}catch(e){}var stT=cc.stT==='session'?w.sessionStorage:w.localStorage;code={use_existing_jquery:function(){return typeof use_existing_jquery!=='undefined'?use_existing_jquery:undefined},library_tolerance:function(){return typeof library_tolerance!=='undefined'?library_tolerance:undefined},settings_tolerance:function(){return cc.sT||settings_tolerance},hide_element_style:function(){return'{'+(cc.hES||hide_element_style)+'}'},hide_element:function(){if(performance.getEntriesByName('first-contentful-paint')[0]){return''}return typeof cc.hE==='string'?cc.hE:hide_element},getVersion:function(){return version},finish:function(e){if(!f){f=true;var t=d.getElementById('_vis_opt_path_hides');if(t)t.parentNode.removeChild(t);if(e)(new Image).src='https://dev.visualwebsiteoptimizer.com/ee.gif?a='+account_id+e}},finished:function(){return f},addScript:function(e){var t=d.createElement('script');t.type='text/javascript';if(e.src){t.src=e.src}else{t.text=e.text}d.getElementsByTagName('head')[0].appendChild(t)},load:function(e,t){var i=this.getSettings(),n=d.createElement('script'),r=this;t=t||{};if(i){n.textContent=i;d.getElementsByTagName('head')[0].appendChild(n);if(!w.VWO||VWO.caE){stT.removeItem(cK);r.load(e)}}else{var o=new XMLHttpRequest;o.open('GET',e,true);o.withCredentials=!t.dSC;o.responseType=t.responseType||'text';o.onload=function(){if(t.onloadCb){return t.onloadCb(o,e)}if(o.status===200){_vwo_code.addScript({text:o.responseText})}else{_vwo_code.finish('&e=loading_failure:'+e)}};o.onerror=function(){if(t.onerrorCb){return t.onerrorCb(e)}_vwo_code.finish('&e=loading_failure:'+e)};o.send()}},getSettings:function(){try{var e=stT.getItem(cK);if(!e){return}e=JSON.parse(e);if(Date.now()>e.e){stT.removeItem(cK);return}return e.s}catch(e){return}},init:function(){if(d.URL.indexOf('__vwo_disable__')>-1)return;var e=this.settings_tolerance();w._vwo_settings_timer=setTimeout(function(){_vwo_code.finish();stT.removeItem(cK)},e);var t;if(this.hide_element()!=='body'){t=d.createElement('style');var i=this.hide_element(),n=i?i+this.hide_element_style():'',r=d.getElementsByTagName('head')[0];t.setAttribute('id','_vis_opt_path_hides');v&&t.setAttribute('nonce',v.nonce);t.setAttribute('type','text/css');if(t.styleSheet)t.styleSheet.cssText=n;else t.appendChild(d.createTextNode(n));r.appendChild(t)}else{t=d.getElementsByTagName('head')[0];var n=d.createElement('div');n.style.cssText='z-index: 2147483647 !important;position: fixed !important;left: 0 !important;top: 0 !important;width: 100% !important;height: 100% !important;background: white !important;';n.setAttribute('id','_vis_opt_path_hides');n.classList.add('_vis_hide_layer');t.parentNode.insertBefore(n,t.nextSibling)}var o='https://dev.visualwebsiteoptimizer.com/j.php?a='+account_id+'&u='+encodeURIComponent(d.URL)+'&vn='+version;if(w.location.search.indexOf('_vwo_xhr')!==-1){this.addScript({src:o})}else{this.load(o+'&x=true')}}};w._vwo_code=code;code.init();})();</script><script data-rh="true" >;window.NREUM||(NREUM={});NREUM.init={session_replay:{enabled:true,block_selector:'',mask_text_selector:'*',sampling_rate:10.0,error_sampling_rate:100.0,mask_all_inputs:true,collect_fonts:true,inline_images:false,inline_stylesheet:true,mask_input_options:{}},distributed_tracing:{enabled:true},privacy:{cookies_enabled:true},ajax:{deny_list:["bam.nr-data.net"]}};;NREUM.loader_config={accountID:"225023",trustKey:"225023",agentID:"1103312515",licenseKey:"NRBR-70564e4017ab43d3811",applicationID:"1103312515"};;NREUM.info={beacon:"bam.nr-data.net",errorBeacon:"bam.nr-data.net",licenseKey:"NRBR-70564e4017ab43d3811",applicationID:"1103312515",sa:1};</script><script data-rh="true" type="text/javascript" src="/assets-web2/nr-loader-spa.1.252.0.min-DkQvycqG.js" async="true"></script><script data-rh="true" id="ga_data_layer_5293777"> var _data = {}; _data = { "articleid" : "5293777", "cue_articleid" : "5293777", "at" : "", "author" : "Therese Soh", "chapter1" : "crypto alternative assets", "contentcat" : "1", "contenttype" : "1", "keyword" : "monetary authority of singapore,central bank digital currencies (cbdcs),tokenisation", "level2" : "wealth", "pagination" : "1", "permutive_id" : window.localStorage.getItem("permutive-id") || "", "pubdate" : "2024-11-04 17:46:50", "story_threads" : "", "title" : "MAS_to_drive_digital_assets_trading,_announces_plans_for_more_tokenisation", "visitorcat" : "1", "termid" : "", "product_flag" : "(not set)", "user_keyword" : "(not set)", "adblocker" : 0, "cd_version" : "bt2", "gs_channels" : "", }; var isArticlePage = false; if (typeof _data != "undefined" && typeof _data.articleid != "undefined" && _data.articleid != "") { isArticlePage = true; } </script><script data-rh="true" id="permutive_script"> var permutive_keys = { articleid: "5293777", chapter1: "crypto alternative assets", contentcat: "1", contenttype: "1", gsKeywords: [""], keywords: ["monetary authority of singapore","central bank digital currencies (cbdcs)","tokenisation"], sph_seg: [], story_threads: "", title: "MAS_to_drive_digital_assets_trading,_announces_plans_for_more_tokenisation", visitorcat: "anonymous", }; per_userid = ""; var per_ptid = ""; if (typeof _data != 'undefined') { if (typeof _data.at != 'undefined' && _data.at != "") { per_userid = _data.at; } if ( typeof per_getcookie("mysph_lr") != "undefined" && per_getcookie("mysph_lr") != "" ) { per_ptid = per_getcookie("mysph_lr"); } if (typeof _data.pagination != 'undefined' && _data.pagination != "") { permutive_keys.pagination = parseInt(_data.pagination); } if (typeof _data.printcat != 'undefined' && _data.printcat != "") { permutive_keys.printcat = _data.printcat; } } function per_getcookie(cname) { if (document.cookie.length > 0) { c_start = document.cookie.indexOf(cname + "="); if (c_start != -1) { c_start = c_start + cname.length + 1; c_end = document.cookie.indexOf(";", c_start); if (c_end == -1) { c_end = document.cookie.length } return unescape(document.cookie.substring(c_start, c_end)) } } return "" } var per_suid = per_getcookie('suid'); var sph_seg = per_getcookie('sph_seg'); if (typeof sph_seg != 'undefined' && sph_seg != "") { permutive_keys.sph_seg = sph_seg.toLowerCase().split(','); } !function (e, o, n, i) { if (!e) { e = e || {}, window.permutive = e, e.q = []; var t = function () { return ([1e7] + -1e3 + -4e3 + -8e3 + -1e11).replace(/[018]/g, function (e) { return (e ^ (window.crypto || window.msCrypto).getRandomValues(new Uint8Array(1))[0] & 15 >> e / 4).toString(16) }) }; e.config = i || {}, e.config.apiKey = o, e.config.workspaceId = n, e.config.environment = e.config.environment || "production", (window.crypto || window.msCrypto) && (e.config.viewId = t()); for (var g = ["addon", "identify", "track", "trigger", "query", "segment", "segments", "ready", "on", "once", "user", "consent"], r = 0; r < g.length; r++) { var w = g[r]; e[w] = function (o) { return function () { var n = Array.prototype.slice.call(arguments, 0); e.q.push({ functionName: o, arguments: n }) } }(w) } } }(window.permutive, "ab403253-b305-47fa-a31b-3efb2473166f", "5f876161-9740-4cc8-9b64-4585990b2690", {}); window.googletag = window.googletag || {}, window.googletag.cmd = window.googletag.cmd || [], window.googletag.cmd.push(function () { if (0 === window.googletag.pubads().getTargeting("permutive").length) { var e = window.localStorage.getItem("_pdfps"); window.googletag.pubads().setTargeting("permutive", e ? JSON.parse(e) : []); var o = window.localStorage.getItem("permutive-id"); window.googletag.pubads().setTargeting("puid", o ? o : ""); window.googletag.pubads().setTargeting("ptime", Date.now().toString()); window.permutive.config.viewId && window.googletag.pubads().setTargeting("prmtvvid", window.permutive.config.viewId); window.permutive.config.workspaceId && window.googletag.pubads().setTargeting("prmtvwid", window.permutive.config.workspaceId); } }); permutive.identify([ { id: per_userid, tag: "userid", priority: 0, }, { id: per_ptid, tag: "ptid", priority: 1, }, { id: per_suid, tag: "suid", priority: 2, }, ]); permutive.addon('web', { page: permutive_keys }); // Permutive Ready check with Timeout function definition window.permutive.readyWithTimeout = function (e, i, t) { var u = !1, n = function () { u || (e(), u = !0) }; (t = t || 1 / 0) !== 1 / 0 && window.setTimeout(n, t), permutive.ready(n, i) }; </script><script data-rh="true" >var gs_channels = [""];</script><script data-rh="true" type="application/ld+json">{"@context":"https://schema.org","@type":"NewsArticle","mainEntityOfPage":{"@type":"WebPage","@id":"https://www.businesstimes.com.sg/wealth/crypto-alternative-assets/mas-drive-digital-assets-trading-announces-plans-more-tokenisation","datePublished":"2024-11-04T09:46:50.000Z","dateModified":"2024-11-04T09:46:50.000Z"},"headline":"MAS to drive digital assets trading, announces plans for more tokenisation","image":["https://cassette.sphdigital.com.sg/image/businesstimes/bfceb6d1095c84b741a63f9c56f77dc2d1f18282a6c42b857fad05e4d4954abb"],"publisher":{"@type":"Organization","name":"The Business Times","logo":{"@type":"ImageObject","url":"https://www.businesstimes.com.sg/assets-web2/bt-logo-72-1T5NabTC.jpg"}},"author":[{"@type":"Person","name":"Therese Soh","url":"https://www.businesstimes.com.sg/authors/therese-soh"}],"description":"SINGAPORE’S central bank on Monday (Nov 4) said that asset tokenisation across financial services is reaching an “inflexion point”, as it announced plans..."}</script> <script type="module" crossorigin src="/assets-web2/index-k6LluUCy.js"></script> <link rel="stylesheet" crossorigin href="/assets-web2/index-B7ki8S7j.css"> </head> <body> <div id="postitial_holder"></div> <div id="app"><div class="flex min-h-screen w-screen max-w-full flex-col antialiased" id="background_container"><div class="mx-auto flex w-full flex-grow flex-col items-center" id="content-container"><div class="w-full" data-testid="article-content-component"><div class="text-center min-h-[50px] lg:min-h-[250px] bg-gray-125 py-1 md:py-3 border-b border-gray-175" data-testid="advertisement-element"><div id="dfp-ad-lb1" class="adunit-component min-h-[50px] lg:min-h-[250px] flex flex-col justify-center items-center"></div></div><header data-testid="navigation-bar" class="_componentHeader_wuadj_1 sticky left-0 top-[-1px] z-30 w-full flex-none"><div class="relative flex min-h-[50px] w-full items-center border-b border-gray-175 bg-white"><div class="mx-auto flex h-full min-h-[50px] w-full max-w-[1900px] px-2 lg:px-6 justify-between"><div class="flex items-center"><button aria-label="Toggle side menu" class="block flex-none cursor-pointer opacity-100 duration-300 h-[48px] w-[48px] border-0 !outline-none focus-within:outline-0 focus:outline-0 lg:h-9 lg:w-9 lg:hover:rounded-full lg:hover:bg-gray-250"><img class="block h-full w-full px-[6px] lg:hidden" src="data:image/svg+xml,%3csvg%20viewBox='0%200%2036%2036'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3crect%20x='8'%20y='17.25'%20width='6'%20height='1.5'%20fill='%232B2B2B'/%3e%3crect%20x='24.4141'%20y='20'%20width='3.64363'%20height='1.5'%20transform='rotate(45%2024.4141%2020)'%20fill='%232B2B2B'/%3e%3crect%20x='8'%20y='22.5'%20width='9'%20height='1.5'%20fill='%232B2B2B'/%3e%3crect%20x='8'%20y='12'%20width='9'%20height='1.5'%20fill='%232B2B2B'/%3e%3ccircle%20cx='21'%20cy='18'%20r='3.25'%20stroke='%232B2B2B'%20stroke-width='1.5'/%3e%3c/svg%3e" width="36" height="36" alt="hamburger icon"/><img class="hidden h-full w-full lg:block" src="data:image/svg+xml,%3csvg%20viewBox='0%200%2036%2036'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3crect%20x='11'%20y='12'%20width='14'%20height='1.8'%20fill='%232B2B2B'/%3e%3crect%20x='11'%20y='17'%20width='14'%20height='1.8'%20fill='%232B2B2B'/%3e%3crect%20x='11'%20y='22'%20width='14'%20height='1.8'%20fill='%232B2B2B'/%3e%3c/svg%3e" width="36" height="36" alt="hamburger icon"/></button><div class="hidden flex-none lg:block"><a class="flex cursor-pointer items-center justify-center opacity-100 duration-300 border-0 !outline-none focus-within:outline-0 focus:outline-0 lg:hover:rounded-full lg:hover:bg-gray-250" aria-label="Search" href="/search"><img src="data:image/svg+xml,%3csvg%20viewBox='0%200%2036%2036'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3crect%20x='21.4141'%20y='20'%20width='5'%20height='1.8'%20transform='rotate(45%2021.4141%2020)'%20fill='%232B2B2B'/%3e%3ccircle%20cx='17'%20cy='17'%20r='5.1'%20stroke='%232B2B2B'%20stroke-width='1.8'/%3e%3c/svg%3e" class="h-full w-[36px]" width="36" height="36" alt="close"/><p class="m-0 block font-poppins text-xs font-normal tracking-2% text-gray-850 lg:hidden">Search</p></a></div></div><div class="absolute left-1/2 top-1/2 block -translate-x-1/2 -translate-y-1/2"><div class="mx-auto py-4 lg:py-0"><a title="The Business Times" href="/?ref=logo"><img src="/assets-web2/logo-masthead-PNobukBu.svg" alt="The Business Times" width="220" height="19"/></a></div></div><div class="mr-auto flex items-center"></div><div class="flex items-center"><div class="flex items-center justify-center lg:mr-3"><button data-testid="user-login-trigger" type="button" class="text-gray-850 cursor-pointer font-poppins text-2xs font-semibold opacity-100 flex items-center justify-center rounded-[25px] leading-none tracking-tightest focus-within:outline-0 focus:outline-0 lg:p-3 lg:hover:bg-gray-175" data-rac="" id="react-aria-:R1tbcu5:"><p class="m-0 hidden lg:block">Login</p><img class="block lg:hidden" src="data:image/svg+xml,%3csvg%20viewBox='0%200%2048%2048'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3cg%20clip-path='url(%23clip0_1600_10292)'%3e%3ccircle%20cx='24'%20cy='22'%20r='4.25'%20stroke='%232B2B2B'%20stroke-width='1.5'/%3e%3ccircle%20cx='24'%20cy='40'%20r='11.25'%20stroke='%232B2B2B'%20stroke-width='1.5'/%3e%3c/g%3e%3cdefs%3e%3cclipPath%20id='clip0_1600_10292'%3e%3crect%20width='20'%20height='15'%20fill='white'%20transform='translate(14%2017)'/%3e%3c/clipPath%3e%3c/defs%3e%3c/svg%3e" width="48" height="48" alt="account"/></button></div><div class="hidden lg:block"><a rel="noopener" class="group inline-flex h-[37px] cursor-pointer items-center justify-center rounded-full bg-orange-300 px-6 font-poppins font-semibold tracking-tightest md:text-white visited:text-white text-2xs" data-testid="subscribe-trigger" href="https://subscribe.sph.com.sg/btpe-mthlyprepaid/?utm_campaign=btp99&utm_medium=sph-publication&utm_source=bt&utm_content=subscribebutton-header" target="_blank"><span class="opacity-100 duration-300 lg:group-hover:opacity-75">Subscribe</span></a></div></div></div></div></header><div class="block pt-1 text-center lg:hidden"><a rel="noopener" class="group inline-flex h-[37px] cursor-pointer items-center justify-center rounded-full px-6 font-poppins tracking-tightest md:text-white visited:text-white text-2xs bg-transparent !text-orange-300 visited:!text-orange-300 font-normal" data-testid="subscribe-trigger" href="https://subscribe.sph.com.sg/btpe-mthlyprepaid/?utm_campaign=btp99&utm_medium=sph-publication&utm_source=bt&utm_content=subscribebutton-header" target="_blank"><span class="opacity-100 duration-300 lg:group-hover:opacity-75">Subscribe from S$9.90/month</span><span><svg aria-hidden="true" focusable="false" data-prefix="fas" data-icon="arrow-right" class="svg-inline--fa fa-arrow-right fa-sm inline-block pl-2" role="img" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 448 512"><path fill="currentColor" d="M438.6 278.6c12.5-12.5 12.5-32.8 0-45.3l-160-160c-12.5-12.5-32.8-12.5-45.3 0s-12.5 32.8 0 45.3L338.8 224 32 224c-17.7 0-32 14.3-32 32s14.3 32 32 32l306.7 0L233.4 393.4c-12.5 12.5-12.5 32.8 0 45.3s32.8 12.5 45.3 0l160-160z"></path></svg></span></a></div><div></div><div id="article-content-wrapper" class="w-full"><div data-testid="article-subshare-gifting-update-component"></div><article class="display-type--mainNewsDefault w-full py-5 font-public-sans" data-index="0" data-cueid="5293777"><div><div><div data-component="component-container" class="container px-3 md:pt-4"><div data-component="component-container" class="container px-0 mx-auto md:px-3 w-full md:w-10/12 lg:w-8/12 mb-4"><h1 data-testid="article-title" class="mb-2 font-lct text-4xl font-bold !leading-[1.3] tracking-[-0.045rem] text-gray-850 md:px-6 md:text-10xl">MAS to drive digital assets trading, announces plans for more tokenisation</h1><p class="mb-6 mt-2 font-lucida text-xl tracking-[-0.075rem] text-gray-850 md:px-6 md:text-4xl md:leading-normal">While there is ‘greater momentum’ in financial services, the process has yet to achieve industry-wide scale, says central bank official</p><div class="mb-6 md:px-6 min-h-[50px] text-gray-850 mt-4 space-y-4 md:flex md:flex-wrap md:space-y-0" data-testid="article-authors-list-component"><div class="flex flex-row items-start justify-start gap-2" data-testid="byline-component"><div class="flex flex-shrink-0 flex-row items-center justify-start"><img class="rounded-full" src="https://cassette.sphdigital.com.sg/image/businesstimes/2aea6a152ccce975270cc4c401f719cf88ae54ab851c711a02551d72179043eb" alt="Therese Soh" width="50" height="50"/></div><div class="flex flex-col flex-wrap pl-2"><div class="flex flex-wrap gap-x-1.5"><h4 class="align-middle font-poppins font-semibold text-gray-850 word-break text-base" data-testid="byline-name-component"><a class="!text-gray-850 hover:underline" href="/authors/therese-soh1" target="_blank">Therese Soh<!-- --> </a></h4></div><div class="font-public-sans text-xs font-normal leading-6 text-gray-650"><span data-testid="article-published-time">Published <!-- -->Mon, Nov 4, 2024 · 05:46 PM</span></div></div></div></div><div class="mb-3 flex items-center justify-between border-b border-t border-gray-250 py-3 md:mx-6 md:mb-6 md:py-4"><div data-testid="article-keyword-filter-first" class="w-full"><div data-testid="article-top-keyword" class="p-3 inline-block w-full bg-transparent !p-0 relative"><div class="group relative"><div class="flex items-center"><a class="line-clamp-1 place-self-center break-all text-center font-poppins text-base font-semibold capitalize !text-gray-850 border-r-0 px-0 md:px-3" href="/keywords/monetary-authority-singapore">Monetary Authority of Singapore</a><button data-size="md" type="button" aria-label="Follow tag" class="ml-auto flex aspect-square cursor-pointer items-center justify-center whitespace-nowrap rounded-full !border !border-solid !border-gray-175 px-3 text-center !font-poppins text-xs font-semibold tracking-[0.02em] text-gray-850 !outline-none transition-all duration-150 focus-within:outline-none hover:!border-gray-850 focus:outline-none data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] md:aspect-auto md:px-6" data-rac="" id="react-aria-:R2aldcscu5:"><div class="md:min-w-16"><p class="m-0 hidden md:block">Follow</p><div class="flex items-center md:hidden"><svg aria-hidden="true" focusable="false" data-prefix="fas" data-icon="plus" class="svg-inline--fa fa-plus fa-sm " role="img" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 448 512" color="text-gray-850"><path fill="currentColor" d="M256 80c0-17.7-14.3-32-32-32s-32 14.3-32 32l0 144L48 224c-17.7 0-32 14.3-32 32s14.3 32 32 32l144 0 0 144c0 17.7 14.3 32 32 32s32-14.3 32-32l0-144 144 0c17.7 0 32-14.3 32-32s-14.3-32-32-32l-144 0 0-144z"></path></svg></div></div></button></div></div></div></div></div><div class="aspect-3x2 -mx-3 md:mx-0" data-testid="article-main-image-component"><div class="splide"><ul class="splide__pagination flex lg:hidden"></ul><div class="splide__arrows absolute bottom-1/2 hidden w-full gap-2 lg:flex"><button class="splide__arrow splide__arrow--prev flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 md:-ml-[2.75rem] min-[1040px]:-left-4 left-0 bg-white aspect-square w-auto" data-size="sm"><div class="flex h-full w-full items-center justify-center"><img src="data:image/svg+xml,%3csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%2016%2016'%20fill='%232b2b2b'%3e%3cpath%20d='M11.354%201.646a.5.5%200%200%201%200%20.708L5.707%208l5.647%205.646a.5.5%200%200%201-.708.708l-6-6a.5.5%200%200%201%200-.708l6-6a.5.5%200%200%201%20.708%200z'/%3e%3c/svg%3e" width="18" height="18"/></div></button><button class="splide__arrow splide__arrow--next flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 md:-mr-[2.75rem] min-[1040px]:-right-4 right-0 bg-white aspect-square w-auto" data-size="sm"><div class="flex h-full w-full items-center justify-center"><img src="data:image/svg+xml,%3csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%2016%2016'%20fill='%232b2b2b'%3e%3cpath%20d='M4.646%201.646a.5.5%200%200%201%20.708%200l6%206a.5.5%200%200%201%200%20.708l-6%206a.5.5%200%200%201-.708-.708L10.293%208%204.646%202.354a.5.5%200%200%201%200-.708z'/%3e%3c/svg%3e" width="18" height="18"/></div></button></div><div class="splide__track"><ul class="splide__list"><li class="splide__slide"><div class="relative h-full"><div class="mx-auto aspect-3x2 w-full max-w-[1400px] bg-gray-250"></div></div></li></ul></div></div><div class="splide"><div class="splide__track"><ul class="splide__list"><li class="splide__slide"><div><div class="py-2 px-3 font-poppins text-xs text-gray-850 md:px-8">Among MAS' new initiatives is supporting industry efforts to build commercial networks for payments, capital raising, and secondary trading of tokenised assets. PHOTO: BLOOMBERG </div></div></li></ul></div></div></div><div class="body-content tracking-tighter mb-6 mt-4 font-lucida text-lg font-medium leading-normal tracking-[-0.05625rem] text-gray-850 antialiased md:px-8 md:text-xl" data-testid="article-paragraphs-component"><div class="relative mb-4 md:mb-6"><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">SINGAPORE’S central bank on Monday (Nov 4) said that asset tokenisation across financial services is reaching an “inflexion point”, as it announced plans to drive adoption of the process in this industry. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Asset tokenisation refers to the process of digitally representing assets on the blockchain.</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Leong Sing Cheong, deputy managing director for markets and development at the Monetary Authority of Singapore (MAS), said that while there is “greater momentum” towards tokenisation in financial services, it has yet to achieve industry-wide scale.</p><div class="my-8 md:my-12 w-screen bg-gray-125 transition-all duration-300 border-gray-175 min-h-0 border-y-0 bg-none py-0" style="max-width:0px;margin-left:calc(-1*(0px - 100%) / 2 );height:0"><div data-component="component-container" class="container px-3 sticky top-[120px]"><div class="relative mx-auto w-full md:w-10/12 md:px-8 lg:w-8/12"><div class="text-center text-center" data-testid="advertisement-element"><div id="dfp-ad-imu1" class="adunit-component"></div></div></div></div></div><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">MAS last year put forward a vision of financial assets being transacted across multiple trading platforms through digital assets, digital money and interoperable digital networks, he noted, adding that central banks have been active in exploring the use and development of central bank digital currencies.</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">“All these efforts point to the fact that interest and investment in asset tokenisation is deepening across asset classes, jurisdictions and currencies,” Leong said at the inaugural Layer One Summit on Monday. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">“However, my sense is that we have reached an inflexion point.”</p><div class="py-10 md:-mx-8"><div class="mb-6 border border-gray-175 p-6 md:p-8"><div class="" data-component="generic-newsletter"><h5 class="mb-6 border-b border-gray-850 pb-2 !font-poppins text-base font-semibold uppercase leading-normal tracking-5% text-gray-850 md:text-lg">BT in your inbox</h5><div class="flex py-3 md:px-10 md:py-6"><img alt="Newsletter Img" class="hidden h-auto max-w-full self-start min-[321px]:block" width="75" height="75" src="/assets-web2/generic_newsletter-CGny2zps.png"/><div class="min-[321px]:pl-4 md:pl-6"><p role="description" class="mb-3 font-public-sans text-base font-light tracking-normal text-gray-850 md:text-lg">Start and end each day with the latest news stories and analyses delivered straight to your inbox.</p><div class="relative hidden w-full md:block md:w-4/5 lg:w-7/10 xl:w-6/10"><div class="relative"><button data-size="md" type="button" class="!outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] w-full min-w-[155px] bg-transparent px-0 py-0 hover:bg-transparent md:max-w-[155px]" data-rac="" id="react-aria-:Rbabcoodcscu5:">Sign Up</button></div></div></div></div><div class="relative block w-full md:hidden "><div class="relative"><button data-size="md" type="button" class="!outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] w-full min-w-[155px] bg-transparent px-0 py-0 hover:bg-transparent md:max-w-[155px]" data-rac="" id="react-aria-:Rnbcoodcscu5:">Sign Up</button></div></div></div></div></div><div class="w-screen bg-gray-125 transition-all duration-300 border-gray-175 min-h-0 border-y-0 bg-none py-0" style="max-width:0px;margin-left:calc(-1*(0px - 100%) / 2 );height:0"><div data-component="component-container" class="container px-3 sticky top-[120px]"><div class="relative mx-auto w-full md:w-10/12 md:px-8 lg:w-8/12"><div class="text-center text-center" data-testid="advertisement-element"><div id="dfp-ad-midarticlespecial" class="adunit-component my-8 md:my-12"></div></div></div></div></div><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">He added: “Notwithstanding the significant efforts of various players to push the boundaries of tokenisation in financial services, no one has really succeeded in achieving scale.”</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Many “promising” use cases have not yet gained industry-wide traction, and there is a need for supporting infrastructure to enable good use cases to expand, he also said.</p><h2 class="mb-4 md:mb-6 text-[21px] md:text-4xl -tracking-5% font-lucida font-bold" data-story-element="sub_head" data-testid="sub-heading-component">New measures</h2><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">In a separate press release, MAS announced various initiatives to address that.</p><div class="mb-6 mt-8 border border-gray-175 p-6 md:-mx-8 md:mt-0 md:p-8" data-testid="article-read-more"><div><div class="mb-6 border-b border-gray-850 pb-2 !font-poppins text-base font-semibold leading-normal tracking-5% text-gray-850 md:text-lg">SEE ALSO</div><div data-testid="section-article-read-more"><div class="mb-6" data-testid="article-read-more-items"><div data-testid="basic-card" data-cueid="5255382" class="relative flex flex-wrap items-start gap-4"><div class="relative flex order-1 flex-shrink-0 w-[70px] lg:w-[90px]"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/companies-markets/banking-finance/singapore-fintech-festival-2024/rise-crypto-custody-more-financial-institutions-enter-digital-asset-space" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/dc8621ce154b4562e5336922ec1be9c43038ee23eaa18de02a2f0220d5c9df53?w=180&h=120&dpr=1&f=webp 1x"/><source media="(min-width: 768px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/dc8621ce154b4562e5336922ec1be9c43038ee23eaa18de02a2f0220d5c9df53?w=140&h=100&dpr=1&f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/dc8621ce154b4562e5336922ec1be9c43038ee23eaa18de02a2f0220d5c9df53?w=300&h=200&dpr=1&f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/dc8621ce154b4562e5336922ec1be9c43038ee23eaa18de02a2f0220d5c9df53?q=20&w=3&h=2&f=webp" loading="lazy" alt="US-based Ripple provides enterprise solutions that leverage the cryptocurrency XRP. " class="w-full aspect-3x2"/></picture></a></div></div></div><div class="flex flex-grow flex-col w-full-120px lg:w-2/3 order-2 text-white"><h3 class="_title_d4ajx_12 !text-base my-0 leading-[1.3rem] tracking-normal !font-lct" data-testid="title_link_5255382"><a class="inherit word-break hover:underline !text-gray-850" rel="noopener" title="Rise of crypto custody as more financial institutions enter digital asset space" href="/companies-markets/banking-finance/singapore-fintech-festival-2024/rise-crypto-custody-more-financial-institutions-enter-digital-asset-space" target="_blank">Rise of crypto custody as more financial institutions enter digital asset space</a></h3></div></div></div></div></div></div><div class="my-8 md:my-12 w-screen bg-gray-125 transition-all duration-300 border-gray-175 min-h-0 border-y-0 bg-none py-0" style="max-width:0px;margin-left:calc(-1*(0px - 100%) / 2 );height:0"><div data-component="component-container" class="container px-3 sticky top-[120px]"><div class="mx-auto w-full md:w-10/12 md:px-8 lg:w-8/12"><div class="text-center text-center" data-testid="advertisement-element"><div id="dfp-ad-imu2" class="adunit-component"></div></div></div></div></div><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Among them is supporting industry efforts to build commercial networks for payments, capital raising, and secondary trading of tokenised assets. This is as deeper liquidity across primary and secondary markets is vital for tokenisation to be viable, MAS said.</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">The agency had previously set up an initiative called Project Guardian to carry out industry trials, and it is now facilitating the formation of commercial networks. This is as the involvement of multiple participants, alongside support for multi-asset and multi-currency transactions, can engender deeper liquidity for tokenised asset transactions. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">To that end, the Guardian Wholesale Network Industry Group – a multi-member network built by Citi, HSBC, Schroders, Standard Chartered and UOB with the purpose of commercialising and scaling their respective asset tokenisation trials – was formed. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">The absence of universal standards for digital assets raises the costs of adopting them, as financial institutions need to invest in and support different technologies, said Leong. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">The Guardian Fixed Income Framework will address this, as it is built to allow for a “standardised approach” towards tokenisation in fixed income markets. An equivalent framework for asset and wealth management will be the Guardian Funds Framework, said MAS.</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Other new initiatives include the launch of a wholesale central bank digital currency, dubbed the SGD Testnet, to provide financial institutions with access to common settlement assets for market testing purposes. </p></div><div class="mb-6 border-t border-gray-175"><section class="mx-auto my-4 w-full" data-testid="article-purchase-link-component"><section class="mx-auto flex w-full flex-wrap items-center justify-between gap-4 lg:gap-0 lg:px-3" data-testid="article-purchase-link-version-2-component"><p class="mb-0 font-public-sans text-xs tracking-normal">Copyright The Business Times. All rights reserved.</p><div class="flex flex-wrap"><a class="!outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] w-fit-content mb-4 mr-4 px-6 !text-gray-850 !no-underline xs:mb-0" href="https://newspost.newslink.sg/?publication=BT&title=MAS%20to%20drive%20digital%20assets%20trading%2C%20announces%20plans%20for%20more%20tokenisation&date=2024-11-04T09%3A46%3A50.000Z" target="_blank" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" data-testid="link-button-undefined" data-size="md">Purchase Article</a><a class="!outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] w-fit-content px-6 !text-gray-850 !no-underline" href="https://subscribe.sph.com.sg/contact-us/" target="_blank" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" data-testid="link-button-undefined" data-size="md">Contact Us</a></div></section></section></div><div class="mb-6 w-screen bg-gray-125 transition-all duration-300 border-gray-175 min-h-0 border-y-0 bg-none py-0" style="max-width:0px;margin-left:calc(-1*(0px - 100%) / 2 );height:0"><div data-component="component-container" class="container px-3 sticky top-[120px]"><div class="relative mx-auto w-full md:w-10/12 md:px-8 lg:w-8/12"><div class="text-center text-center" data-testid="advertisement-element"><div id="dfp-ad-imu3" class="adunit-component"></div></div></div></div></div></div><div></div></div><div data-component="component-container" class="container px-3 flex md:gap-6 lg:flex-row flex-col-reverse"><section class="my-5"><h2 class="border-t-2 border-gray-850 pt-3 font-poppins text-lg font-semibold uppercase tracking-[0.05625rem]"><a class="!text-gray-850" href="/wealth/crypto-alternative-assets">more in <!-- -->Crypto & Alternative Assets</a></h2><ul data-testid="stories-from-same-section" class="grid lg:grid-cols-2"><li class="h-full border-b border-gray-175 py-3"><div class="mb-2 mt-1 flex h-full flex-grow flex-col border-gray-175 py-3 pb-2 lg:border-r lg:pr-3"><h2 class="font-lct text-base font-bold"><a class="block !text-gray-850" href="/wealth/crypto-alternative-assets/bitcoin-soars-above-us82000-trump-win-boosts-crypto-prospects">Bitcoin soars above US$82,000 as Trump win boosts crypto prospects</a></h2><p class="mb-0 mt-auto font-poppins text-4xs uppercase text-gray-550">Nov 11, 2024 01:16 PM</p></div></li><li class="h-full border-b border-gray-175 py-3"><div class="mb-2 mt-1 flex h-full flex-grow flex-col border-gray-175 py-3 pb-2 lg:pl-3"><h2 class="font-lct text-base font-bold"><a class="block !text-gray-850" href="/companies-markets/banking-finance/bitcoin-cusp-us80000-first-time-optimism-over-trump">Bitcoin on cusp of US$80,000 for first time on optimism over Trump</a></h2><p class="mb-0 mt-auto font-poppins text-4xs uppercase text-gray-550">Nov 10, 2024 05:34 PM</p></div></li><li class="h-full border-b border-gray-175 py-3"><div class="mb-2 mt-1 flex h-full flex-grow flex-col border-gray-175 py-3 pb-2 lg:border-r lg:pr-3"><h2 class="font-lct text-base font-bold"><a class="block !text-gray-850" href="/wealth/crypto-alternative-assets/mas-drive-digital-assets-trading-announces-plans-more-tokenisation">MAS to drive digital assets trading, announces plans for more tokenisation</a></h2><p class="mb-0 mt-auto font-poppins text-4xs uppercase text-gray-550">Nov 04, 2024 05:46 PM</p></div></li><li class="h-full border-b border-gray-175 py-3"><div class="mb-2 mt-1 flex h-full flex-grow flex-col border-gray-175 py-3 pb-2 lg:pl-3"><h2 class="font-lct text-base font-bold"><a class="block !text-gray-850" href="/wealth/investors-remain-cautious-digital-assets-despite-growing-interest">Investors remain cautious on digital assets despite growing interest</a></h2><p class="mb-0 mt-auto font-poppins text-4xs uppercase text-gray-550">Oct 17, 2024 10:00 AM</p></div></li><li class="h-full border-b border-gray-175 py-3"><div class="mb-2 mt-1 flex h-full flex-grow flex-col border-gray-175 py-3 pb-2 lg:border-r lg:pr-3"><h2 class="font-lct text-base font-bold"><a class="block !text-gray-850" href="/wealth/crypto-alternative-assets/microstrategys-latest-us1-1-billion-bitcoin-purchase-largest-2021">MicroStrategy’s latest US$1.1 billion Bitcoin purchase is largest since 2021</a></h2><p class="mb-0 mt-auto font-poppins text-4xs uppercase text-gray-550">Sep 13, 2024 11:17 PM</p></div></li><li class="h-full border-b border-gray-175 py-3"><div class="mb-2 mt-1 flex h-full flex-grow flex-col border-gray-175 py-3 pb-2 lg:pl-3"><h2 class="font-lct text-base font-bold"><a class="block !text-gray-850" href="/wealth/crypto-alternative-assets/potential-government-sales-bitcoin-unnerves-crypto-market">Potential government sales of Bitcoin unnerves crypto market</a></h2><p class="mb-0 mt-auto font-poppins text-4xs uppercase text-gray-550">Aug 30, 2024 04:51 PM</p></div></li><li class="h-full border-b border-gray-175 py-3"><div class="mb-2 mt-1 flex h-full flex-grow flex-col border-gray-175 py-3 pb-2 lg:border-r lg:pr-3"><h2 class="font-lct text-base font-bold"><a class="block !text-gray-850" href="/wealth/crypto-alternative-assets/kraken-must-face-sec-suit-over-crypto-exchange-registration">Kraken must face SEC suit over crypto exchange registration</a></h2><p class="mb-0 mt-auto font-poppins text-4xs uppercase text-gray-550">Aug 24, 2024 07:45 AM</p></div></li><li class="h-full border-b border-gray-175 py-3"><div class="mb-2 mt-1 flex h-full flex-grow flex-col border-gray-175 py-3 pb-2 lg:pl-3"><h2 class="font-lct text-base font-bold"><a class="block !text-gray-850" href="/companies-markets/bitcoin-hits-1-month-high-revives-talk-another-record-run">Bitcoin hits 1-month high, revives talk of another record run</a></h2><p class="mb-0 mt-auto font-poppins text-4xs uppercase text-gray-550">Jul 20, 2024 09:34 AM</p></div></li></ul></section><div class="mx-auto mb-6 lg:min-w-[300px] lg:max-w-[300px]"></div></div><div class="OUTBRAIN" data-src="www.businesstimes.com.sg/wealth/crypto-alternative-assets/mas-drive-digital-assets-trading-announces-plans-more-tokenisation" data-widget-id="AR_4" data-ob-template="BusinessTimes" data-testid="outbrain-widget-component"></div></div></div></div></article><div></div></div><div aria-roledescription="article-subshare-prompt-observer"></div><div class="text-center" data-testid="advertisement-element"><div id="dfp-ad-catfish" class="adunit-component"></div></div><div class="text-center" data-testid="advertisement-element"><div id="dfp-ad-abm" class="adunit-component"></div></div></div></div></div><div data-testid="footer-container" id="footer-container" class="antialiased"><div data-component="component-container" class="container px-3 pt-0 pb-10 lg:pb-8"><div class="flex items-center justify-between border-t-2 border-gray-850 pb-5 pt-6 lg:pb-8"><div class="px-0 !py-0 max-w-[300px] lg:max-w-[360px] py-4 lg:py-0"><a title="The Business Times" href="/?ref=logo"><img src="/assets-web2/logo-masthead-PNobukBu.svg" alt="The Business Times" width="360" height="31"/></a></div><div class="hidden lg:block"><div class="mx-auto flex max-w-[300px] flex-wrap justify-center gap-3 sm:max-w-full lg:gap-2"><a class="aspect-square !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !h-[60px] lg:!h-[36px]" href="https://t.me/BizTimes" target="_blank" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="telegram" data-testid="link-button-telegram" aria-label="telegram" data-size="sm"><img src="data:image/svg+xml,%3csvg%20width='24'%20height='24'%20viewBox='0%200%2024%2024'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3cpath%20fill-rule='evenodd'%20clip-rule='evenodd'%20d='M2.30615%2010.7785C7.40641%208.55638%2010.8074%207.09144%2012.5091%206.38365C17.3677%204.36276%2018.3773%204.01172%2019.0354%204.00012C19.1801%203.99757%2019.5037%204.03344%2019.7133%204.20353C19.8903%204.34715%2019.939%204.54116%2019.9623%204.67733C19.9856%204.8135%2020.0146%205.12369%2019.9916%205.36606C19.7283%208.1325%2018.589%2014.8459%2018.0094%2017.9444C17.7642%2019.2554%2017.2813%2019.695%2016.8138%2019.7381C15.7978%2019.8315%2015.0263%2019.0666%2014.0422%2018.4216C12.5024%2017.4122%2011.6325%2016.7839%2010.1378%2015.7989C8.4105%2014.6606%209.53027%2014.035%2010.5147%2013.0125C10.7723%2012.7449%2015.2488%208.67325%2015.3354%208.30388C15.3463%208.25768%2015.3563%208.08549%2015.254%207.99456C15.1517%207.90364%2015.0007%207.93473%2014.8918%207.95946C14.7373%207.99451%2012.2775%209.62041%207.51212%2012.8371C6.81389%2013.3166%206.18145%2013.5502%205.61481%2013.538C4.99014%2013.5245%203.78851%2013.1848%202.89523%2012.8944C1.79958%2012.5382%200.928776%2012.3499%201.0046%2011.7451C1.0441%2011.43%201.47795%2011.1078%202.30615%2010.7785Z'%20fill='%232B2B2B'/%3e%3c/svg%3e" width="24" height="24" alt="Share on Telegram"/></a><a class="aspect-square !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !h-[60px] lg:!h-[36px]" href="https://wa.me/?text=THE%20BUSINESS%20TIMES%20-%20Get%20the%20Latest%20Business%20%26%20Financial%20News%20%0D%0Ahttps%3A%2F%2Fwww.businesstimes.com.sg" target="_blank" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="whatsapp" data-testid="link-button-whatsapp" aria-label="whatsapp" data-size="sm"><img src="data:image/svg+xml,%3csvg%20width='24'%20height='24'%20viewBox='0%200%2024%2024'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3cpath%20d='M19.0854%204.91005C18.164%203.98398%2017.0665%203.24972%2015.8569%202.75011C14.6473%202.25049%2013.3499%201.99552%2012.0402%202.00006C6.55276%202.00006%202.0804%206.45005%202.0804%2011.91C2.0804%2013.66%202.54271%2015.36%203.40704%2016.86L2%2022L7.27638%2020.62C8.73367%2021.41%2010.3719%2021.83%2012.0402%2021.83C17.5276%2021.83%2022%2017.38%2022%2011.92C22%209.27004%2020.9648%206.78005%2019.0854%204.91005ZM12.0402%2020.15C10.5528%2020.15%209.09548%2019.75%207.81909%2019L7.51759%2018.82L4.38191%2019.64L5.21608%2016.6L5.01508%2016.29C4.18869%2014.977%203.74989%2013.4593%203.74874%2011.91C3.74874%207.37004%207.46734%203.67005%2012.0301%203.67005C14.2412%203.67005%2016.3216%204.53005%2017.8794%206.09005C18.6507%206.85401%2019.262%207.7627%2019.6778%208.76346C20.0936%209.76422%2020.3056%2010.8371%2020.3015%2011.92C20.3216%2016.46%2016.603%2020.15%2012.0402%2020.15ZM16.5829%2013.99C16.3317%2013.87%2015.1055%2013.27%2014.8844%2013.18C14.6533%2013.1%2014.4925%2013.06%2014.3216%2013.3C14.1508%2013.55%2013.6784%2014.11%2013.5377%2014.27C13.397%2014.44%2013.2462%2014.46%2012.995%2014.33C12.7437%2014.21%2011.9397%2013.94%2010.995%2013.1C10.2513%2012.44%209.75879%2011.63%209.60804%2011.38C9.46734%2011.13%209.58794%2011%209.71859%2010.87C9.82914%2010.76%209.96985%2010.58%2010.0905%2010.44C10.2111%2010.3%2010.2613%2010.19%2010.3417%2010.03C10.4221%209.86004%2010.3819%209.72004%2010.3216%209.60004C10.2613%209.48004%209.75879%208.26004%209.55779%207.76004C9.35678%207.28004%209.14573%207.34004%208.99497%207.33004H8.51256C8.34171%207.33004%208.0804%207.39004%207.84925%207.64004C7.62814%207.89004%206.98492%208.49004%206.98492%209.71004C6.98492%2010.93%207.8794%2012.11%208%2012.27C8.1206%2012.44%209.75879%2014.94%2012.2513%2016.01C12.8442%2016.27%2013.3065%2016.42%2013.6683%2016.53C14.2613%2016.72%2014.804%2016.69%2015.2362%2016.63C15.7186%2016.56%2016.7136%2016.03%2016.9146%2015.45C17.1256%2014.87%2017.1256%2014.38%2017.0553%2014.27C16.9849%2014.16%2016.8342%2014.11%2016.5829%2013.99Z'%20fill='%232B2B2B'/%3e%3c/svg%3e" width="24" height="24" alt="icon"/></a><a class="aspect-square !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !h-[60px] lg:!h-[36px]" href="https://www.instagram.com/businesstimessg" target="_blank" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="instagram" data-testid="link-button-instagram" aria-label="instagram" data-size="sm"><img src="data:image/svg+xml,%3csvg%20width='24'%20height='24'%20viewBox='0%200%2024%2024'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3cg%20clip-path='url(%23clip0_1157_680)'%3e%3cpath%20d='M7.8%202H16.2C19.4%202%2022%204.6%2022%207.8V16.2C22%2017.7383%2021.3889%2019.2135%2020.3012%2020.3012C19.2135%2021.3889%2017.7383%2022%2016.2%2022H7.8C4.6%2022%202%2019.4%202%2016.2V7.8C2%206.26174%202.61107%204.78649%203.69878%203.69878C4.78649%202.61107%206.26174%202%207.8%202ZM7.6%204C6.64522%204%205.72955%204.37928%205.05442%205.05442C4.37928%205.72955%204%206.64522%204%207.6V16.4C4%2018.39%205.61%2020%207.6%2020H16.4C17.3548%2020%2018.2705%2019.6207%2018.9456%2018.9456C19.6207%2018.2705%2020%2017.3548%2020%2016.4V7.6C20%205.61%2018.39%204%2016.4%204H7.6ZM17.25%205.5C17.5815%205.5%2017.8995%205.6317%2018.1339%205.86612C18.3683%206.10054%2018.5%206.41848%2018.5%206.75C18.5%207.08152%2018.3683%207.39946%2018.1339%207.63388C17.8995%207.8683%2017.5815%208%2017.25%208C16.9185%208%2016.6005%207.8683%2016.3661%207.63388C16.1317%207.39946%2016%207.08152%2016%206.75C16%206.41848%2016.1317%206.10054%2016.3661%205.86612C16.6005%205.6317%2016.9185%205.5%2017.25%205.5ZM12%207C13.3261%207%2014.5979%207.52678%2015.5355%208.46447C16.4732%209.40215%2017%2010.6739%2017%2012C17%2013.3261%2016.4732%2014.5979%2015.5355%2015.5355C14.5979%2016.4732%2013.3261%2017%2012%2017C10.6739%2017%209.40215%2016.4732%208.46447%2015.5355C7.52678%2014.5979%207%2013.3261%207%2012C7%2010.6739%207.52678%209.40215%208.46447%208.46447C9.40215%207.52678%2010.6739%207%2012%207ZM12%209C11.2044%209%2010.4413%209.31607%209.87868%209.87868C9.31607%2010.4413%209%2011.2044%209%2012C9%2012.7956%209.31607%2013.5587%209.87868%2014.1213C10.4413%2014.6839%2011.2044%2015%2012%2015C12.7956%2015%2013.5587%2014.6839%2014.1213%2014.1213C14.6839%2013.5587%2015%2012.7956%2015%2012C15%2011.2044%2014.6839%2010.4413%2014.1213%209.87868C13.5587%209.31607%2012.7956%209%2012%209Z'%20fill='%232B2B2B'/%3e%3c/g%3e%3cdefs%3e%3cclipPath%20id='clip0_1157_680'%3e%3crect%20width='24'%20height='24'%20fill='white'/%3e%3c/clipPath%3e%3c/defs%3e%3c/svg%3e" width="24" height="24" alt="Share on Instagram"/></a><a class="aspect-square !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !h-[60px] lg:!h-[36px]" href="https://www.facebook.com/thebusinesstimes" target="_blank" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="facebook" data-testid="link-button-facebook" aria-label="facebook" data-size="sm"><img src="data:image/svg+xml,%3csvg%20width='24'%20height='24'%20viewBox='0%200%2024%2024'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3cpath%20d='M13.3333%209.33333V7.74583C13.3333%207.02917%2013.4917%206.66667%2014.6042%206.66667H16V4H13.6708C10.8167%204%209.875%205.30833%209.875%207.55417V9.33333H8V12H9.875V20H13.3333V12H15.6833L16%209.33333H13.3333Z'%20fill='%232B2B2B'/%3e%3c/svg%3e" width="24" height="24" alt="Share on Facebook"/></a><a class="aspect-square !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !h-[60px] lg:!h-[36px]" href="https://twitter.com/businesstimes" target="_blank" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="twitter" data-testid="link-button-twitter" aria-label="twitter" data-size="sm"><img src="data:image/svg+xml,%3csvg%20width='24'%20height='24'%20viewBox='0%200%2024%2024'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3cpath%20d='M16.3134%205.2207H18.6135L13.5884%2010.964L19.5%2018.7793H14.8706L11.2452%2014.0394L7.097%2018.7793H4.79551L10.1703%2012.6362L4.5%205.2207H9.24551L12.5225%209.5532L16.3134%205.2207ZM15.5061%2017.4026H16.7806L8.55368%206.52511H7.186L15.5061%2017.4026Z'%20fill='%232B2B2B'/%3e%3c/svg%3e" width="24" height="24" alt="Share on Twitter"/></a><a class="aspect-square !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !h-[60px] lg:!h-[36px]" href="https://www.linkedin.com/showcase/the-business-times" target="_blank" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="linkedin" data-testid="link-button-linkedin" aria-label="linkedin" data-size="sm"><img src="data:image/svg+xml,%3csvg%20width='24'%20height='24'%20viewBox='0%200%2024%2024'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3cpath%20d='M5.37194%209.72833H8.28677V18.5H5.37194V9.72833ZM6.84886%205.5C5.85124%205.5%205.19946%206.15495%205.19946%207.01459C5.19946%207.85655%205.83216%208.53054%206.81072%208.53054H6.8293C7.846%208.53054%208.47916%207.85652%208.47916%207.01459C8.46008%206.15495%207.84604%205.5%206.84886%205.5ZM15.4435%209.52227C13.8963%209.52227%2013.2031%2010.3733%2012.8164%2010.9701V9.72833H9.90071C9.93931%2010.5512%209.90071%2018.5%209.90071%2018.5H12.8164V13.6013C12.8164%2013.3389%2012.8355%2013.0775%2012.9122%2012.8896C13.1233%2012.3658%2013.603%2011.8234%2014.4077%2011.8234C15.4635%2011.8234%2015.8851%2012.6282%2015.8851%2013.8068V18.5H18.8004V13.4701C18.8004%2010.7759%2017.3625%209.52227%2015.4435%209.52227Z'%20fill='%232B2B2B'/%3e%3c/svg%3e" width="24" height="24" alt="Share on Linkedin"/></a></div></div></div><div data-testid="footer-navigation-items" class="flex flex-col lg:flex-row lg:gap-6"><div class="flex flex-col lg:flex-row lg:gap-6"><div data-testid="footer-navigation-news" class="border-b border-gray-175 pb-4 lg:flex-1 lg:border-0 lg:pb-0"><div class="_componentAccordion_3p6dv_1 text-gray-850 border-gray-175 hover:cursor-pointer" id="side-drawer-navigation-news" data-testid="side-drawer-navigation-news"><div data-testid="footer-title-button" class="pt-4 lg:pt-0"><div class="flex items-center justify-between font-poppins text-xs font-semibold uppercase leading-tight tracking-[0.0875rem] text-black lg:cursor-default lg:leading-loose lg:text-gray-350"><span>News</span><div class="flex h-[42px] w-[42px] items-center justify-center rounded-full border border-gray-175 hover:opacity-70 lg:hidden"><svg class="block h-[5px] w-[10px] transition-all duration-300 group-hover:fill-gray-850 lg:hidden" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 12 8" fill="none"><path d="M1 1.33398C5 5.33398 6 6.33398 6 6.33398L11 1.33398" stroke="black" stroke-width="1.5" stroke-linecap="round"></path></svg></div></div></div><div class="_content_3p6dv_26 box-border overflow-hidden px-[24px] !bg-transparent !px-0 before:!h-0 after:!h-0" style="height:0"><a data-testid="footer-children-breaking-news" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/breaking-news?ref=footer">Breaking News</a><a data-testid="footer-children-property" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/property?ref=footer">Property</a><a data-testid="footer-children-keywords-residential" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/keywords/residential?ref=footer">Residential</a><a data-testid="footer-children-keywords-commercial-industrial" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/keywords/commercial-industrial?ref=footer">Commercial & Industrial</a><a data-testid="footer-children-singapore" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/singapore?ref=footer">Singapore</a><a data-testid="footer-children-international" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/international?ref=footer">International</a><a data-testid="footer-children-startups-tech" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/startups-tech?ref=footer">Startups & Tech</a><a data-testid="footer-children-opinion-features" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/opinion-features?ref=footer">Opinion & Features</a><a data-testid="footer-children-esg" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/esg?ref=footer">ESG</a><a data-testid="footer-children-working-life" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/working-life?ref=footer">Working Life</a></div></div></div><div data-testid="footer-navigation-companies" class="border-b border-gray-175 pb-4 lg:flex-1 lg:border-0 lg:pb-0"><div class="_componentAccordion_3p6dv_1 text-gray-850 border-gray-175 hover:cursor-pointer" id="side-drawer-navigation-companies" data-testid="side-drawer-navigation-companies"><div data-testid="footer-title-button" class="pt-4 lg:pt-0"><div class="flex items-center justify-between font-poppins text-xs font-semibold uppercase leading-tight tracking-[0.0875rem] text-black lg:cursor-default lg:leading-loose lg:text-gray-350"><span>Companies</span><div class="flex h-[42px] w-[42px] items-center justify-center rounded-full border border-gray-175 hover:opacity-70 lg:hidden"><svg class="block h-[5px] w-[10px] transition-all duration-300 group-hover:fill-gray-850 lg:hidden" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 12 8" fill="none"><path d="M1 1.33398C5 5.33398 6 6.33398 6 6.33398L11 1.33398" stroke="black" stroke-width="1.5" stroke-linecap="round"></path></svg></div></div></div><div class="_content_3p6dv_26 box-border overflow-hidden px-[24px] !bg-transparent !px-0 before:!h-0 after:!h-0" style="height:0"><a data-testid="footer-children-companies-markets" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/companies-markets?ref=footer">Companies & Markets</a><a data-testid="footer-children-companies-markets-banking-finance" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/companies-markets/banking-finance?ref=footer">Banking & Finance</a><a data-testid="footer-children-companies-markets-reits-property" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/companies-markets/reits-property?ref=footer">Reits & Property</a><a data-testid="footer-children-companies-markets-energy-commodities" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/companies-markets/energy-commodities?ref=footer">Energy & Commodities</a><a data-testid="footer-children-companies-markets-telcos-media-tech" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/companies-markets/telcos-media-tech?ref=footer">Telcos, Media & Tech</a><a data-testid="footer-children-companies-markets-transport-logistics" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/companies-markets/transport-logistics?ref=footer">Transport & Logistics</a><a data-testid="footer-children-companies-markets-consumer-healthcare" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/companies-markets/consumer-healthcare?ref=footer">Consumer & Healthcare</a><a data-testid="footer-children-companies-markets-capital-markets-currencies" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/companies-markets/capital-markets-currencies?ref=footer">Capital Markets & Currencies</a></div></div></div><div data-testid="footer-navigation-wealth" class="border-b border-gray-175 pb-4 lg:flex-1 lg:border-0 lg:pb-0"><div class="_componentAccordion_3p6dv_1 text-gray-850 border-gray-175 hover:cursor-pointer" id="side-drawer-navigation-wealth" data-testid="side-drawer-navigation-wealth"><div data-testid="footer-title-button" class="pt-4 lg:pt-0"><div class="flex items-center justify-between font-poppins text-xs font-semibold uppercase leading-tight tracking-[0.0875rem] text-black lg:cursor-default lg:leading-loose lg:text-gray-350"><span>Wealth</span><div class="flex h-[42px] w-[42px] items-center justify-center rounded-full border border-gray-175 hover:opacity-70 lg:hidden"><svg class="block h-[5px] w-[10px] transition-all duration-300 group-hover:fill-gray-850 lg:hidden" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 12 8" fill="none"><path d="M1 1.33398C5 5.33398 6 6.33398 6 6.33398L11 1.33398" stroke="black" stroke-width="1.5" stroke-linecap="round"></path></svg></div></div></div><div class="_content_3p6dv_26 box-border overflow-hidden px-[24px] !bg-transparent !px-0 before:!h-0 after:!h-0" style="height:0"><a data-testid="footer-children-wealth" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/wealth?ref=footer">Wealth</a><a data-testid="footer-children-wealth-wealth-investing" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/wealth/wealth-investing?ref=footer">Wealth & Investing</a><a data-testid="footer-children-wealth-personal-finance" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/wealth/personal-finance?ref=footer">Personal Finance</a><a data-testid="footer-children-wealth-crypto-alternative-assets" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/wealth/crypto-alternative-assets?ref=footer">Crypto & Alternative Assets</a><a data-testid="footer-children-wealth-supplements" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/wealth/supplements?ref=footer">Supplements</a></div></div></div><div data-testid="footer-navigation-living" class="border-b border-gray-175 pb-4 lg:flex-1 lg:border-0 lg:pb-0"><div class="_componentAccordion_3p6dv_1 text-gray-850 border-gray-175 hover:cursor-pointer" id="side-drawer-navigation-living" data-testid="side-drawer-navigation-living"><div data-testid="footer-title-button" class="pt-4 lg:pt-0"><div class="flex items-center justify-between font-poppins text-xs font-semibold uppercase leading-tight tracking-[0.0875rem] text-black lg:cursor-default lg:leading-loose lg:text-gray-350"><span>Living</span><div class="flex h-[42px] w-[42px] items-center justify-center rounded-full border border-gray-175 hover:opacity-70 lg:hidden"><svg class="block h-[5px] w-[10px] transition-all duration-300 group-hover:fill-gray-850 lg:hidden" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 12 8" fill="none"><path d="M1 1.33398C5 5.33398 6 6.33398 6 6.33398L11 1.33398" stroke="black" stroke-width="1.5" stroke-linecap="round"></path></svg></div></div></div><div class="_content_3p6dv_26 box-border overflow-hidden px-[24px] !bg-transparent !px-0 before:!h-0 after:!h-0" style="height:0"><a data-testid="footer-children-lifestyle" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/lifestyle?ref=footer">Lifestyle</a><a data-testid="footer-children-keywords-food-drink" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/keywords/food-drink?ref=footer">Food & Drink</a><a data-testid="footer-children-keywords-motoring" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/keywords/motoring?ref=footer">Motoring</a><a data-testid="footer-children-keywords-style-travel" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/keywords/style-travel?ref=footer">Style & Travel</a><a data-testid="footer-children-keywords-watches" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/keywords/watches?ref=footer">Watches</a><a data-testid="footer-children-keywords-arts-design" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/keywords/arts-design?ref=footer">Arts & Design</a><a data-testid="footer-children-lifestyle-bt-luxe" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/lifestyle/bt-luxe?ref=footer">BT Luxe</a></div></div></div><div data-testid="footer-navigation-more" class="border-b border-gray-175 pb-4 lg:flex-1 lg:border-0 lg:pb-0"><div class="_componentAccordion_3p6dv_1 text-gray-850 border-gray-175 hover:cursor-pointer" id="side-drawer-navigation-more" data-testid="side-drawer-navigation-more"><div data-testid="footer-title-button" class="pt-4 lg:pt-0"><div class="flex items-center justify-between font-poppins text-xs font-semibold uppercase leading-tight tracking-[0.0875rem] text-black lg:cursor-default lg:leading-loose lg:text-gray-350"><span>More</span><div class="flex h-[42px] w-[42px] items-center justify-center rounded-full border border-gray-175 hover:opacity-70 lg:hidden"><svg class="block h-[5px] w-[10px] transition-all duration-300 group-hover:fill-gray-850 lg:hidden" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 12 8" fill="none"><path d="M1 1.33398C5 5.33398 6 6.33398 6 6.33398L11 1.33398" stroke="black" stroke-width="1.5" stroke-linecap="round"></path></svg></div></div></div><div class="_content_3p6dv_26 box-border overflow-hidden px-[24px] !bg-transparent !px-0 before:!h-0 after:!h-0" style="height:0"><a data-testid="footer-children-epaper" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="https://e-paper.sph.com.sg/bt?ref=footer">E-paper</a><a data-testid="footer-children-videos" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/videos?ref=footer">Videos</a><a data-testid="footer-children-newsletter" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/newsletter/sign-up?ref=footer">Newsletters</a><a data-testid="footer-children-podcasts" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/podcasts?ref=footer">Podcasts</a><a data-testid="footer-children-Personal Subscription" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="https://subscribe.sph.com.sg/promotions/bt-personal/?ref=footer">Personal Subscription</a><a data-testid="footer-children-Group Subscription" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="https://subscribe.sph.com.sg/corporate-plans/?ref=footer">Group Subscription</a><a data-testid="footer-children-paid-press-release" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/paid-press-release?ref=footer">Paid Press Release</a><a data-testid="footer-children-advertise" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/advertise?ref=footer">Advertise with Us</a><a data-testid="footer-children-events-awards" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/events-awards?ref=footer">Events & Awards</a></div></div></div></div><div class="border-gray-175 lg:border-l lg:pl-6"><div data-testid="footer-navigation-recommends" class="flex-1"><div class="_componentAccordion_3p6dv_1 text-gray-850 border-gray-175 hover:cursor-pointer" id="side-drawer-navigation-recommends" data-testid="side-drawer-navigation-recommends"><div data-testid="footer-title-button" class="pt-4 lg:pt-0"><div class="flex items-center justify-between font-poppins text-xs font-semibold uppercase leading-tight tracking-[0.0875rem] text-black lg:cursor-default lg:leading-loose lg:text-gray-350"><span>bt recommends</span><div class="flex h-[42px] w-[42px] items-center justify-center rounded-full border border-gray-175 hover:opacity-70 lg:hidden"><svg class="block h-[5px] w-[10px] transition-all duration-300 group-hover:fill-gray-850 lg:hidden" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 12 8" fill="none"><path d="M1 1.33398C5 5.33398 6 6.33398 6 6.33398L11 1.33398" stroke="black" stroke-width="1.5" stroke-linecap="round"></path></svg></div></div></div><div class="_content_3p6dv_26 box-border overflow-hidden px-[24px] !bg-transparent !px-0 before:!h-0 after:!h-0" style="height:0"><a data-testid="footer-children-thrive" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/thrive?ref=footer">Thrive</a><a data-testid="footer-children-startups-tech-tech-in-asia" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/tech-in-asia?ref=footer">Tech in Asia</a><a data-testid="footer-children-international-asean" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/international/asean?ref=footer">Asean Business</a><a data-testid="footer-children-international-global" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/international/global?ref=footer">Global Enterprise</a><a data-testid="footer-children-singapore-smes" class="block py-3 font-poppins text-xs font-medium leading-tight hover:underline md:pb-0 md:pt-3" href="/singapore/smes?ref=footer">SGSME</a></div></div></div><div class="mt-6 border-t border-gray-175 pt-8 lg:pt-6"><div class="mx-auto block pb-10 text-center lg:hidden"><div class="mx-auto flex max-w-[300px] flex-wrap justify-center gap-3 sm:max-w-full lg:gap-2"><a class="aspect-square !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !h-[60px] lg:!h-[36px]" href="https://t.me/BizTimes" target="_blank" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="telegram" data-testid="link-button-telegram" aria-label="telegram" data-size="sm"><img src="data:image/svg+xml,%3csvg%20width='24'%20height='24'%20viewBox='0%200%2024%2024'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3cpath%20fill-rule='evenodd'%20clip-rule='evenodd'%20d='M2.30615%2010.7785C7.40641%208.55638%2010.8074%207.09144%2012.5091%206.38365C17.3677%204.36276%2018.3773%204.01172%2019.0354%204.00012C19.1801%203.99757%2019.5037%204.03344%2019.7133%204.20353C19.8903%204.34715%2019.939%204.54116%2019.9623%204.67733C19.9856%204.8135%2020.0146%205.12369%2019.9916%205.36606C19.7283%208.1325%2018.589%2014.8459%2018.0094%2017.9444C17.7642%2019.2554%2017.2813%2019.695%2016.8138%2019.7381C15.7978%2019.8315%2015.0263%2019.0666%2014.0422%2018.4216C12.5024%2017.4122%2011.6325%2016.7839%2010.1378%2015.7989C8.4105%2014.6606%209.53027%2014.035%2010.5147%2013.0125C10.7723%2012.7449%2015.2488%208.67325%2015.3354%208.30388C15.3463%208.25768%2015.3563%208.08549%2015.254%207.99456C15.1517%207.90364%2015.0007%207.93473%2014.8918%207.95946C14.7373%207.99451%2012.2775%209.62041%207.51212%2012.8371C6.81389%2013.3166%206.18145%2013.5502%205.61481%2013.538C4.99014%2013.5245%203.78851%2013.1848%202.89523%2012.8944C1.79958%2012.5382%200.928776%2012.3499%201.0046%2011.7451C1.0441%2011.43%201.47795%2011.1078%202.30615%2010.7785Z'%20fill='%232B2B2B'/%3e%3c/svg%3e" width="24" height="24" alt="Share on Telegram"/></a><a class="aspect-square !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !h-[60px] lg:!h-[36px]" href="https://wa.me/?text=THE%20BUSINESS%20TIMES%20-%20Get%20the%20Latest%20Business%20%26%20Financial%20News%20%0D%0Ahttps%3A%2F%2Fwww.businesstimes.com.sg" target="_blank" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="whatsapp" data-testid="link-button-whatsapp" aria-label="whatsapp" data-size="sm"><img src="data:image/svg+xml,%3csvg%20width='24'%20height='24'%20viewBox='0%200%2024%2024'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3cpath%20d='M19.0854%204.91005C18.164%203.98398%2017.0665%203.24972%2015.8569%202.75011C14.6473%202.25049%2013.3499%201.99552%2012.0402%202.00006C6.55276%202.00006%202.0804%206.45005%202.0804%2011.91C2.0804%2013.66%202.54271%2015.36%203.40704%2016.86L2%2022L7.27638%2020.62C8.73367%2021.41%2010.3719%2021.83%2012.0402%2021.83C17.5276%2021.83%2022%2017.38%2022%2011.92C22%209.27004%2020.9648%206.78005%2019.0854%204.91005ZM12.0402%2020.15C10.5528%2020.15%209.09548%2019.75%207.81909%2019L7.51759%2018.82L4.38191%2019.64L5.21608%2016.6L5.01508%2016.29C4.18869%2014.977%203.74989%2013.4593%203.74874%2011.91C3.74874%207.37004%207.46734%203.67005%2012.0301%203.67005C14.2412%203.67005%2016.3216%204.53005%2017.8794%206.09005C18.6507%206.85401%2019.262%207.7627%2019.6778%208.76346C20.0936%209.76422%2020.3056%2010.8371%2020.3015%2011.92C20.3216%2016.46%2016.603%2020.15%2012.0402%2020.15ZM16.5829%2013.99C16.3317%2013.87%2015.1055%2013.27%2014.8844%2013.18C14.6533%2013.1%2014.4925%2013.06%2014.3216%2013.3C14.1508%2013.55%2013.6784%2014.11%2013.5377%2014.27C13.397%2014.44%2013.2462%2014.46%2012.995%2014.33C12.7437%2014.21%2011.9397%2013.94%2010.995%2013.1C10.2513%2012.44%209.75879%2011.63%209.60804%2011.38C9.46734%2011.13%209.58794%2011%209.71859%2010.87C9.82914%2010.76%209.96985%2010.58%2010.0905%2010.44C10.2111%2010.3%2010.2613%2010.19%2010.3417%2010.03C10.4221%209.86004%2010.3819%209.72004%2010.3216%209.60004C10.2613%209.48004%209.75879%208.26004%209.55779%207.76004C9.35678%207.28004%209.14573%207.34004%208.99497%207.33004H8.51256C8.34171%207.33004%208.0804%207.39004%207.84925%207.64004C7.62814%207.89004%206.98492%208.49004%206.98492%209.71004C6.98492%2010.93%207.8794%2012.11%208%2012.27C8.1206%2012.44%209.75879%2014.94%2012.2513%2016.01C12.8442%2016.27%2013.3065%2016.42%2013.6683%2016.53C14.2613%2016.72%2014.804%2016.69%2015.2362%2016.63C15.7186%2016.56%2016.7136%2016.03%2016.9146%2015.45C17.1256%2014.87%2017.1256%2014.38%2017.0553%2014.27C16.9849%2014.16%2016.8342%2014.11%2016.5829%2013.99Z'%20fill='%232B2B2B'/%3e%3c/svg%3e" width="24" height="24" alt="icon"/></a><a class="aspect-square !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !h-[60px] lg:!h-[36px]" href="https://www.instagram.com/businesstimessg" target="_blank" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="instagram" data-testid="link-button-instagram" aria-label="instagram" data-size="sm"><img src="data:image/svg+xml,%3csvg%20width='24'%20height='24'%20viewBox='0%200%2024%2024'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3cg%20clip-path='url(%23clip0_1157_680)'%3e%3cpath%20d='M7.8%202H16.2C19.4%202%2022%204.6%2022%207.8V16.2C22%2017.7383%2021.3889%2019.2135%2020.3012%2020.3012C19.2135%2021.3889%2017.7383%2022%2016.2%2022H7.8C4.6%2022%202%2019.4%202%2016.2V7.8C2%206.26174%202.61107%204.78649%203.69878%203.69878C4.78649%202.61107%206.26174%202%207.8%202ZM7.6%204C6.64522%204%205.72955%204.37928%205.05442%205.05442C4.37928%205.72955%204%206.64522%204%207.6V16.4C4%2018.39%205.61%2020%207.6%2020H16.4C17.3548%2020%2018.2705%2019.6207%2018.9456%2018.9456C19.6207%2018.2705%2020%2017.3548%2020%2016.4V7.6C20%205.61%2018.39%204%2016.4%204H7.6ZM17.25%205.5C17.5815%205.5%2017.8995%205.6317%2018.1339%205.86612C18.3683%206.10054%2018.5%206.41848%2018.5%206.75C18.5%207.08152%2018.3683%207.39946%2018.1339%207.63388C17.8995%207.8683%2017.5815%208%2017.25%208C16.9185%208%2016.6005%207.8683%2016.3661%207.63388C16.1317%207.39946%2016%207.08152%2016%206.75C16%206.41848%2016.1317%206.10054%2016.3661%205.86612C16.6005%205.6317%2016.9185%205.5%2017.25%205.5ZM12%207C13.3261%207%2014.5979%207.52678%2015.5355%208.46447C16.4732%209.40215%2017%2010.6739%2017%2012C17%2013.3261%2016.4732%2014.5979%2015.5355%2015.5355C14.5979%2016.4732%2013.3261%2017%2012%2017C10.6739%2017%209.40215%2016.4732%208.46447%2015.5355C7.52678%2014.5979%207%2013.3261%207%2012C7%2010.6739%207.52678%209.40215%208.46447%208.46447C9.40215%207.52678%2010.6739%207%2012%207ZM12%209C11.2044%209%2010.4413%209.31607%209.87868%209.87868C9.31607%2010.4413%209%2011.2044%209%2012C9%2012.7956%209.31607%2013.5587%209.87868%2014.1213C10.4413%2014.6839%2011.2044%2015%2012%2015C12.7956%2015%2013.5587%2014.6839%2014.1213%2014.1213C14.6839%2013.5587%2015%2012.7956%2015%2012C15%2011.2044%2014.6839%2010.4413%2014.1213%209.87868C13.5587%209.31607%2012.7956%209%2012%209Z'%20fill='%232B2B2B'/%3e%3c/g%3e%3cdefs%3e%3cclipPath%20id='clip0_1157_680'%3e%3crect%20width='24'%20height='24'%20fill='white'/%3e%3c/clipPath%3e%3c/defs%3e%3c/svg%3e" width="24" height="24" alt="Share on Instagram"/></a><a class="aspect-square !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !h-[60px] lg:!h-[36px]" href="https://www.facebook.com/thebusinesstimes" target="_blank" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="facebook" data-testid="link-button-facebook" aria-label="facebook" data-size="sm"><img src="data:image/svg+xml,%3csvg%20width='24'%20height='24'%20viewBox='0%200%2024%2024'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3cpath%20d='M13.3333%209.33333V7.74583C13.3333%207.02917%2013.4917%206.66667%2014.6042%206.66667H16V4H13.6708C10.8167%204%209.875%205.30833%209.875%207.55417V9.33333H8V12H9.875V20H13.3333V12H15.6833L16%209.33333H13.3333Z'%20fill='%232B2B2B'/%3e%3c/svg%3e" width="24" height="24" alt="Share on Facebook"/></a><a class="aspect-square !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !h-[60px] lg:!h-[36px]" href="https://twitter.com/businesstimes" target="_blank" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="twitter" data-testid="link-button-twitter" aria-label="twitter" data-size="sm"><img src="data:image/svg+xml,%3csvg%20width='24'%20height='24'%20viewBox='0%200%2024%2024'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3cpath%20d='M16.3134%205.2207H18.6135L13.5884%2010.964L19.5%2018.7793H14.8706L11.2452%2014.0394L7.097%2018.7793H4.79551L10.1703%2012.6362L4.5%205.2207H9.24551L12.5225%209.5532L16.3134%205.2207ZM15.5061%2017.4026H16.7806L8.55368%206.52511H7.186L15.5061%2017.4026Z'%20fill='%232B2B2B'/%3e%3c/svg%3e" width="24" height="24" alt="Share on Twitter"/></a><a class="aspect-square !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !h-[60px] lg:!h-[36px]" href="https://www.linkedin.com/showcase/the-business-times" target="_blank" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="linkedin" data-testid="link-button-linkedin" aria-label="linkedin" data-size="sm"><img src="data:image/svg+xml,%3csvg%20width='24'%20height='24'%20viewBox='0%200%2024%2024'%20fill='none'%20xmlns='http://www.w3.org/2000/svg'%3e%3cpath%20d='M5.37194%209.72833H8.28677V18.5H5.37194V9.72833ZM6.84886%205.5C5.85124%205.5%205.19946%206.15495%205.19946%207.01459C5.19946%207.85655%205.83216%208.53054%206.81072%208.53054H6.8293C7.846%208.53054%208.47916%207.85652%208.47916%207.01459C8.46008%206.15495%207.84604%205.5%206.84886%205.5ZM15.4435%209.52227C13.8963%209.52227%2013.2031%2010.3733%2012.8164%2010.9701V9.72833H9.90071C9.93931%2010.5512%209.90071%2018.5%209.90071%2018.5H12.8164V13.6013C12.8164%2013.3389%2012.8355%2013.0775%2012.9122%2012.8896C13.1233%2012.3658%2013.603%2011.8234%2014.4077%2011.8234C15.4635%2011.8234%2015.8851%2012.6282%2015.8851%2013.8068V18.5H18.8004V13.4701C18.8004%2010.7759%2017.3625%209.52227%2015.4435%209.52227Z'%20fill='%232B2B2B'/%3e%3c/svg%3e" width="24" height="24" alt="Share on Linkedin"/></a></div></div><div class="hidden lg:block"><div data-testid="footer-title-button" class="pt-4 lg:pt-0"><div class="flex items-center justify-between font-poppins text-xs font-semibold uppercase leading-tight tracking-[0.0875rem] text-black lg:cursor-default lg:leading-loose lg:text-gray-350"><span>Mobile</span><div class="flex h-[42px] w-[42px] items-center justify-center rounded-full border border-gray-175 hover:opacity-70 lg:hidden"><svg class="block h-[5px] w-[10px] transition-all duration-300 group-hover:fill-gray-850 lg:hidden -rotate-180" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 12 8" fill="none"><path d="M1 1.33398C5 5.33398 6 6.33398 6 6.33398L11 1.33398" stroke="black" stroke-width="1.5" stroke-linecap="round"></path></svg></div></div></div></div><div class="pt-3"><div class="flex flex-row justify-center gap-1 lg:flex-col"><a class="mr-5 lg:mr-1" rel=" noopener noreferrer" href="https://itunes.apple.com/sg/app/business-times-for-iphone/id531275824" target="_blank"><img width="135" height="40" src="/assets-web2/icon-app-ios-D0cj50Hv.svg" alt="Download on the Apple Store"/></a><a rel="noreferrer noopener" href="https://play.google.com/store/apps/details?id=com.ps.bt&hl=en" target="_blank"><img width="135" height="40" src="/assets-web2/icon-app-google-pUYdZ-wS.svg" alt="Download on the Google Play Store"/></a></div></div></div></div></div></div><div data-component="component-container" class="container px-3"><div class="w-full border-t py-4"><ul class="flex flex-wrap justify-center gap-3 font-public-sans text-4xs text-gray-650 md:gap-5"><li><a class="capitalize leading-[1.375rem] tracking-[0.00294rem] hover:underline" href="/content/about-us?ref=footer">about us</a></li><li><a class="capitalize leading-[1.375rem] tracking-[0.00294rem] hover:underline" href="/content/contact-us?ref=footer">contact us</a></li><li><a class="capitalize leading-[1.375rem] tracking-[0.00294rem] hover:underline" href="/help?ref=footer">help</a></li><li><a class="capitalize leading-[1.375rem] tracking-[0.00294rem] hover:underline" href="https://www.sph.com.sg/legal/sph_privacy/?ref=footer">privacy policy</a></li><li><a class="capitalize leading-[1.375rem] tracking-[0.00294rem] hover:underline" href="https://www.sph.com.sg/legal/website_tnc/?ref=footer">terms & conditions</a></li><li><a class="capitalize leading-[1.375rem] tracking-[0.00294rem] hover:underline" href="https://www.sph.com.sg/legal/cookie-policy/?ref=footer">cookie policy</a></li><li><a class="capitalize leading-[1.375rem] tracking-[0.00294rem] hover:underline" href="https://www.sph.com.sg/legal/pdpa/?ref=footer">data protection policy</a></li></ul><div class="py-4 text-center font-public-sans text-4xs leading-[1.375rem] tracking-[0.00294rem] text-gray-650"><p class="mb-0">MDDI (P) 046/10/2024. Published by SPH Media Limited, Co. Regn. No. 202120748H. Copyright © 2024 SPH Media Limited. All rights reserved.</p></div></div></div></div><div id="sph_cdp_76"></div><span data-testid="package-version-tag" class="hidden">2.2.15</span><span data-testid="page-generated-at-tag" class="hidden"></span><script>window.__staticRouterHydrationData = JSON.parse("{\"loaderData\":{\"1\":\"%7B%22type%22%3A0%2C%22statusCode%22%3A200%2C%22payload%22%3A%7B%22kind%22%3A%22art%22%2C%22data%22%3A%7B%22cook%22%3A%7B%22data%22%3A%7B%22context%22%3A%7B%22typeName%22%3A%22OnlineStory%22%2C%22id%22%3A%225293777%22%2C%22href%22%3A%22https%3A%2F%2Fbusinesstimes.cue-prd.sphnet.com.sg%2Fwealth%2Fcrypto-alternative-assets%2Fmas-drive-digital-assets-trading-announces-plans-more-tokenisation%22%2C%22urlPath%22%3A%22%2Fwealth%2Fcrypto-alternative-assets%2Fmas-drive-digital-assets-trading-announces-plans-more-tokenisation%22%2C%22urlPathHistory%22%3Anull%2C%22type%22%3A%22onlineStory%22%2C%22source%22%3A%22ece-auto-gen%22%2C%22sourceId%22%3A%2260b7527f-af6a-4198-ad76-ac98aa543055%22%2C%22created%22%3A%222024-11-04T07%3A18%3A56.000Z%22%2C%22updated%22%3A%222024-11-04T09%3A46%3A50.000Z%22%2C%22lastmodified%22%3A%222024-11-04T09%3A46%3A50.000Z%22%2C%22edited%22%3A%222024-11-04T09%3A46%3A50.000Z%22%2C%22expired%22%3Anull%2C%22scheduled%22%3Anull%2C%22title%22%3A%22MAS%20to%20drive%20digital%20assets%20trading%2C%20announces%20plans%20for%20more%20tokenisation%22%2C%22baseStory%22%3Anull%2C%22previewSourceId%22%3A%22%22%2C%22sections%22%3A%5B%7B%22name%22%3A%22Crypto%20%26%20Alternative%20Assets%22%2C%22uniqueName%22%3A%22wealth_crypto-alternative-assets%22%2C%22directoryName%22%3A%22crypto-alternative-assets%22%2C%22href%22%3A%22https%3A%2F%2Fbusinesstimes.cue-prd.sphnet.com.sg%2Fwealth%2Fcrypto-alternative-assets%2F%22%2C%22parent%22%3A%7B%22name%22%3A%22Wealth%22%2C%22uniqueName%22%3A%22wealth%22%2C%22directoryName%22%3A%22wealth%22%2C%22parent%22%3A%7B%22name%22%3A%22Home%22%2C%22uniqueName%22%3A%22ece_frontpage%22%2C%22directoryName%22%3A%22frontpage%22%7D%7D%2C%22parameters%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22Capital%20Markets%20%26%20Currencies%22%2C%22uniqueName%22%3A%22companies-markets_capital-markets-currencies%22%2C%22directoryName%22%3A%22capital-markets-currencies%22%2C%22href%22%3A%22https%3A%2F%2Fbusinesstimes.cue-prd.sphnet.com.sg%2Fcompanies-markets%2Fcapital-markets-currencies%2F%22%2C%22parent%22%3A%7B%22name%22%3A%22Companies%20%26%20Markets%22%2C%22uniqueName%22%3A%22companies-markets%22%2C%22directoryName%22%3A%22companies-markets%22%2C%22parent%22%3A%7B%22name%22%3A%22Home%22%2C%22uniqueName%22%3A%22ece_frontpage%22%2C%22directoryName%22%3A%22frontpage%22%7D%7D%2C%22parameters%22%3A%5B%5D%7D%5D%2C%22tags%22%3A%5B%7B%22id%22%3A%22tag%3Abusinesstimes-keywords%40sph.com.sg%2C2022%3Amonetary-authority-of-singapore%22%2C%22uri%22%3A%22main%2Fmonetary-authority-of-singapore%22%2C%22type%22%3A%22keyword%22%2C%22name%22%3A%22Monetary%20Authority%20of%20Singapore%22%2C%22urlPath%22%3A%22%2Fkeywords%2Fmonetary-authority-singapore%22%2C%22urlPathHistory%22%3A%5B%22%2Fkeywords%2Fmonetary-authority-singapore%22%2C%22%2Fkeywords%2Fmonetary-authority-of-singapore%22%5D%2C%22sections%22%3A%5B%5D%2C%22aliases%22%3A%5B%22%2Fmonetary-authority-singapore%22%5D%2C%22fields%22%3A%5B%7B%22key%22%3A%22id%22%2C%22value%22%3A%221783%22%7D%2C%7B%22key%22%3A%22source%22%2C%22value%22%3A%22bt-drupal-node%22%7D%2C%7B%22key%22%3A%22sourceid%22%2C%22value%22%3A%221597%22%7D%2C%7B%22key%22%3A%22description%22%2C%22value%22%3A%22%22%7D%5D%2C%22parent%22%3Anull%7D%2C%7B%22id%22%3A%22tag%3Abusinesstimes-keywords%40sph.com.sg%2C2022%3Acentral-bank-digital-currencies-cbdcs%22%2C%22uri%22%3A%22main%2Fcentral-bank-digital-currencies-cbdcs%22%2C%22type%22%3A%22keyword%22%2C%22name%22%3A%22Central%20Bank%20Digital%20Currencies%20(CBDCs)%22%2C%22urlPath%22%3A%22%2Fkeywords%2Fcentral-bank-digital-currencies-cbdcs%22%2C%22urlPathHistory%22%3A%5B%22%2Fkeywords%2Fcentral-bank-digital-currencies-cbdcs%22%5D%2C%22sections%22%3A%5B%5D%2C%22aliases%22%3A%5B%22%2Fcentral-bank-digital-currencies-cbdcs%22%5D%2C%22fields%22%3A%5B%7B%22key%22%3A%22id%22%2C%22value%22%3A%22902%22%7D%2C%7B%22key%22%3A%22source%22%2C%22value%22%3A%22bt-drupal-node%22%7D%2C%7B%22key%22%3A%22sourceid%22%2C%22value%22%3A%22113367%22%7D%2C%7B%22key%22%3A%22description%22%2C%22value%22%3A%22%22%7D%5D%2C%22parent%22%3Anull%7D%2C%7B%22id%22%3A%22tag%3Abusinesstimes-keywords%40sph.com.sg%2C2022%3Atokenisation%22%2C%22uri%22%3A%22main%2Ftokenisation%22%2C%22type%22%3A%22keyword%22%2C%22name%22%3A%22tokenisation%22%2C%22urlPath%22%3A%22%2Fkeywords%2Ftokenisation%22%2C%22urlPathHistory%22%3A%5B%22%2Fkeywords%2Ftokenisation%22%5D%2C%22sections%22%3A%5B%5D%2C%22aliases%22%3A%5B%22%2Ftokenisation%22%5D%2C%22fields%22%3A%5B%7B%22key%22%3A%22id%22%2C%22value%22%3A%222451%22%7D%2C%7B%22key%22%3A%22source%22%2C%22value%22%3A%22bt-drupal-node%22%7D%2C%7B%22key%22%3A%22sourceid%22%2C%22value%22%3A%22103234%22%7D%2C%7B%22key%22%3A%22description%22%2C%22value%22%3A%22%22%7D%5D%2C%22parent%22%3Anull%7D%5D%2C%22media%22%3A%5B%7B%22href%22%3A%22http%3A%2F%2Finternal-alb-cue-presentation-cue-prd-1122320581.ap-southeast-1.elb.amazonaws.com%3A8080%2Fwebservice%2Fescenic%2Fcontent%2F3105685%22%2C%22content%22%3A%7B%22id%22%3A%223105685%22%2C%22type%22%3A%22picture%22%2C%22source%22%3A%22DCX%22%2C%22sourceId%22%3A%22a208af09-d931-4c6a-9149-95a523ffd728%22%2C%22binaryLink%22%3A%22http%3A%2F%2Finternal-alb-cue-presentation-cue-prd-1122320581.ap-southeast-1.elb.amazonaws.com%3A8080%2Fwebservice%2Fescenic%2Fbinary%2F3105685%2F2024%2F3%2F4%2F11%2Ffile7udbfwbbhmhde2sucn9.jpg%22%2C%22alternates%22%3A%7B%22poi%22%3A%7B%22top%22%3A0%2C%22left%22%3A0%2C%22auto%22%3Anull%7D%2C%22com_escenic_master%22%3A%7B%22x%22%3A0%2C%22y%22%3A0%2C%22width%22%3A0%2C%22height%22%3A0%2C%22auto%22%3Anull%7D%2C%22ORIGINAL%22%3A%7B%22x%22%3A0%2C%22y%22%3A0%2C%22width%22%3A0%2C%22height%22%3A0%2C%22auto%22%3Anull%7D%2C%22BASE_LANDSCAPE%22%3A%7B%22x%22%3A0%2C%22y%22%3A0%2C%22width%22%3A0%2C%22height%22%3A0%2C%22auto%22%3Afalse%7D%2C%22BASE_PORTRAIT%22%3A%7B%22x%22%3A0%2C%22y%22%3A0%2C%22width%22%3A0%2C%22height%22%3A0%2C%22auto%22%3Anull%7D%2C%22BASE_SQUARE%22%3A%7B%22x%22%3A0%2C%22y%22%3A0%2C%22width%22%3A0%2C%22height%22%3A0%2C%22auto%22%3Anull%7D%2C%22BASE_SQUARE_30_26%22%3A%7B%22x%22%3A0%2C%22y%22%3A0%2C%22width%22%3A0%2C%22height%22%3A0%2C%22auto%22%3Anull%7D%2C%22BASE_WIDE%22%3A%7B%22x%22%3A0%2C%22y%22%3A0%2C%22width%22%3A0%2C%22height%22%3A0%2C%22auto%22%3Anull%7D%2C%22BASE_FREE%22%3A%7B%22x%22%3A0%2C%22y%22%3A0%2C%22width%22%3A0%2C%22height%22%3A0%2C%22auto%22%3Anull%7D%7D%2C%22fields%22%3A%7B%22caption%22%3A%22A%20screen%20displays%20cryptocurrency%20prices%20in%20a%20cryptocurrency%20exchange%20bureau%20in%20Istanbul%2C%20Turkey%2C%20on%20Friday%2C%20March%201%2C%202024.%20Bitcoin%20has%20jumped%20over%2040%25%20already%20this%20year%20atop%20the%20successful%20debut%20of%20the%20US%20ETFs%2C%20which%20directly%20hold%20the%20token.%20Photographer%3A%20David%20Lombeida%2FBloomberg%22%2C%22credit%22%3A%22Bloomberg%22%2C%22com_escenic_defaultmetadata%22%3A%5B%7B%22key%22%3A%22last-modified%22%2C%22value%22%3A%221709522783762%22%7D%2C%7B%22key%22%3A%22content-length%22%2C%22value%22%3A%221041979%22%7D%2C%7B%22key%22%3A%22mime-type%22%2C%22value%22%3A%22image%2Fjpeg%22%7D%2C%7B%22key%22%3A%22format%22%2C%22value%22%3A%22JPEG%22%7D%2C%7B%22key%22%3A%22width%22%2C%22value%22%3A%223870%22%7D%2C%7B%22key%22%3A%22file-name%22%2C%22value%22%3A%22file7udbfwbbhmhde2sucn9.jpg%22%7D%2C%7B%22key%22%3A%22com.escenic.binary.version%22%2C%22value%22%3A%222%22%7D%2C%7B%22key%22%3A%22original-mime-type%22%2C%22value%22%3A%22image%2Fjpeg%22%7D%2C%7B%22key%22%3A%22height%22%2C%22value%22%3A%222581%22%7D%5D%2C%22original%22%3A%7B%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fk7yaxc-408323429.jpg%2Falternates%2FORIGINAL%2F408323429.jpg%22%2C%22width%22%3A1200%2C%22height%22%3A-1%7D%2C%22portrait%22%3A%7B%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fk7yaxc-408323429.jpg%2Falternates%2FBASE_PORTRAIT%2F408323429.jpg%22%2C%22width%22%3A1140%2C%22height%22%3A2026%7D%2C%22landscape%22%3A%7B%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fk7yaxc-408323429.jpg%2Falternates%2FBASE_LANDSCAPE%2F408323429.jpg%22%2C%22width%22%3A1140%2C%22height%22%3A760%7D%2C%22landscape480%22%3A%7B%22href_full%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fk7yaxc-408323429.jpg%2Falternates%2FLANDSCAPE_480%2F408323429.jpg%22%2C%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fk7yaxc-408323429.jpg%2Falternates%2FLANDSCAPE_480%2F408323429.jpg%22%2C%22width%22%3A480%2C%22height%22%3A320%7D%2C%22landscape1024%22%3A%7B%22href_full%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fk7yaxc-408323429.jpg%2Falternates%2FLANDSCAPE_1024%2F408323429.jpg%22%2C%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fk7yaxc-408323429.jpg%2Falternates%2FLANDSCAPE_1024%2F408323429.jpg%22%2C%22width%22%3A1024%2C%22height%22%3A682%7D%2C%22square%22%3A%7B%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fk7yaxc-408323429.jpg%2Falternates%2FBASE_SQUARE%2F408323429.jpg%22%2C%22width%22%3A1140%2C%22height%22%3A1140%7D%2C%22square_30_26%22%3A%7B%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fk7yaxc-408323429.jpg%2Falternates%2FBASE_SQUARE_30_26%2F408323429.jpg%22%2C%22width%22%3A1140%2C%22height%22%3A987%7D%2C%22wide%22%3A%7B%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fk7yaxc-408323429.jpg%2Falternates%2FBASE_WIDE%2F408323429.jpg%22%2C%22width%22%3A1140%2C%22height%22%3A485%7D%2C%22freecrop%22%3A%7B%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fk7yaxc-408323429.jpg%2Falternates%2FBASE_FREE%2F408323429.jpg%22%2C%22width%22%3A1140%2C%22height%22%3A-1%7D%2C%22landscape480-caas%22%3A%7B%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2F94043288bfa657007e93b40613d5ca0c251024921d91738703c3300230408730%22%2C%22width%22%3A480%2C%22height%22%3A320%7D%2C%22wide-caas%22%3A%7B%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2F0db66388c6e42815a64c9fd32735ddfc216d8890cb8a78a17e80788d09f93085%22%2C%22width%22%3A1140%2C%22height%22%3A485%7D%2C%22freecrop-caas%22%3A%7B%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2F81cbf35f8ed8fec5bc12bab00bc37454a04b7e659341cda88588f47b192a329d%22%2C%22width%22%3A1140%2C%22height%22%3A760%7D%2C%22landscape-caas%22%3A%7B%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2Ff150a06e881589c7d355c616d2a2a395e7b0c19610b192bd3f598d2d2086de55%22%2C%22width%22%3A1140%2C%22height%22%3A760%7D%2C%22square_30_26-caas%22%3A%7B%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2Fd746d1ca05c5d507de25a622276ee5909180061ac123eba151b835364bf918f4%22%2C%22width%22%3A1140%2C%22height%22%3A987%7D%2C%22square-caas%22%3A%7B%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2Fffba2bca257008d92f971ca8f8a39a8a18a2f3c7399cd02d8be179a875e8e90d%22%2C%22width%22%3A1140%2C%22height%22%3A1140%7D%2C%22portrait-caas%22%3A%7B%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2Fa7f9a153d59bba2424cd78ebfdd472d1b6aaabe5c7c6e2bead532d3f5514c239%22%2C%22width%22%3A1140%2C%22height%22%3A2026%7D%2C%22original-caas%22%3A%7B%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2Fbfceb6d1095c84b741a63f9c56f77dc2d1f18282a6c42b857fad05e4d4954abb%22%2C%22width%22%3A3870%2C%22height%22%3A2581%7D%2C%22landscape1024-caas%22%3A%7B%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2Fc58f840fe70b775aeff7c5c676451646ccd694408561d61aa4549ac1a3525b0c%22%2C%22width%22%3A1024%2C%22height%22%3A682%7D%7D%7D%2C%22summary%22%3A%5B%7B%22key%22%3A%22caption%22%2C%22value%22%3A%22Among%20MAS'%20new%20initiatives%20is%20supporting%20industry%20efforts%20to%20build%20commercial%20networks%20for%20payments%2C%20capital%20raising%2C%20and%20secondary%20trading%20of%20tokenised%20assets.%20%22%7D%2C%7B%22key%22%3A%22credit%22%2C%22value%22%3A%22PHOTO%3A%20BLOOMBERG%20%22%7D%2C%7B%22key%22%3A%22byline%22%2C%22value%22%3A%22David%20Lombeida%22%7D%2C%7B%22key%22%3A%22alttext%22%2C%22value%22%3A%22Among%20MAS'%20new%20initiatives%20is%20supporting%20industry%20efforts%20to%20build%20commercial%20networks%20for%20payments%2C%20capital%20raising%2C%20and%20secondary%20trading%20of%20tokenised%20assets.%20%22%7D%5D%7D%5D%2C%22attachments%22%3A%5B%5D%2C%22relatedStories%22%3A%5B%7B%22href%22%3A%22http%3A%2F%2Finternal-alb-cue-presentation-cue-prd-1122320581.ap-southeast-1.elb.amazonaws.com%3A8080%2Fwebservice%2Fescenic%2Fcontent%2F5255382%22%2C%22content%22%3A%7B%22id%22%3A%225255382%22%2C%22type%22%3A%22brandedContent%22%2C%22href%22%3A%22https%3A%2F%2Fbusinesstimes.cue-prd.sphnet.com.sg%2Fcompanies-markets%2Fbanking-finance%2Fsingapore-fintech-festival-2024%2Frise-crypto-custody-more-financial-institutions-enter-digital-asset-space%22%2C%22urlPath%22%3A%22%2Fcompanies-markets%2Fbanking-finance%2Fsingapore-fintech-festival-2024%2Frise-crypto-custody-more-financial-institutions-enter-digital-asset-space%22%2C%22source%22%3A%22ece-auto-gen%22%2C%22sourceId%22%3A%22b38f8bb5-429d-4f7c-ae8c-f74a38e7ca0e%22%2C%22fields%22%3A%7B%22title%22%3A%22Singapore%20FinTech%20Festival%202024%2Frise-crypto-custody-more-financial-institutions-enter-digital-asset-space%22%7D%7D%7D%5D%2C%22relatedContributorProfile%22%3A%5B%5D%2C%22campaignReference%22%3A%5B%5D%2C%22ogImages%22%3A%5B%5D%2C%22authors%22%3A%5B%7B%22id%22%3A%224669%22%2C%22name%22%3A%22Therese%20Soh%22%2C%22firstname%22%3A%22Therese%22%2C%22surname%22%3A%22Soh%22%2C%22username%22%3A%22therese%22%2C%22email%22%3A%22therese%40sph.com.sg%22%2C%22source%22%3A%22okta%22%2C%22sourceId%22%3A%2200udanczz3eNsh1tR697%22%2C%22updated%22%3A%222024-04-25T07%3A47%3A19.000Z%22%2C%22edited%22%3A%222024-09-05T05%3A38%3A04.000Z%22%2C%22profiles%22%3A%5B%7B%22content%22%3A%7B%22typeName%22%3A%22AuthorProfile%22%2C%22id%22%3A%224615146%22%2C%22urlPath%22%3A%22%2Fauthors%2Ftherese-soh1%22%2C%22urlPathHistory%22%3A%5B%5D%2C%22type%22%3A%22authorProfile%22%2C%22source%22%3A%22ece-auto-gen%22%2C%22sourceId%22%3A%22832a4b16-88aa-4f29-b12e-04225df5ab17%22%2C%22updated%22%3A%222024-09-04T02%3A19%3A04.000Z%22%2C%22edited%22%3A%222024-10-16T02%3A08%3A43.000Z%22%2C%22fields%22%3A%7B%22name%22%3A%22Therese%20Soh%22%2C%22bio%22%3A%5B%5D%2C%22bio_raw%22%3A%22%22%2C%22email%22%3A%22therese%40sph.com.sg%22%2C%22twitterHandle%22%3A%22%22%2C%22designation%22%3A%22%22%2C%22startdate%22%3A%22%22%7D%2C%22headshotImage%22%3A%5B%7B%22content%22%3A%7B%22fields%22%3A%7B%22original%22%3A%7B%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fo2f4ta-20241010-533a6353-edit-edit-edit.jpg%2Falternates%2FORIGINAL%2F20241010-533A6353-Edit-Edit-Edit.jpg%22%2C%22width%22%3A1200%2C%22height%22%3A-1%7D%2C%22square_560%22%3A%7B%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fo2f4ta-20241010-533a6353-edit-edit-edit.jpg%2Falternates%2FSQUARE_560%2F20241010-533A6353-Edit-Edit-Edit.jpg%22%2C%22width%22%3A560%2C%22height%22%3A560%7D%2C%22square_480%22%3A%7B%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fo2f4ta-20241010-533a6353-edit-edit-edit.jpg%2Falternates%2FSQUARE_480%2F20241010-533A6353-Edit-Edit-Edit.jpg%22%2C%22width%22%3A480%2C%22height%22%3A480%7D%2C%22square_320%22%3A%7B%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fo2f4ta-20241010-533a6353-edit-edit-edit.jpg%2Falternates%2FSQUARE_320%2F20241010-533A6353-Edit-Edit-Edit.jpg%22%2C%22width%22%3A320%2C%22height%22%3A320%7D%2C%22square_80%22%3A%7B%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Fo2f4ta-20241010-533a6353-edit-edit-edit.jpg%2Falternates%2FSQUARE_80%2F20241010-533A6353-Edit-Edit-Edit.jpg%22%2C%22width%22%3A80%2C%22height%22%3A80%7D%2C%22square_560-caas%22%3A%7B%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2F3a623ec18ca903da583986e34fc8b8ea06134b49dfa4b82889c4002b586e919e%22%2C%22width%22%3A560%2C%22height%22%3A560%7D%2C%22original-caas%22%3A%7B%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2F3d255b3129bfe9d822f73a15aa1bc67907143549d288fd8476557df885dc6716%22%2C%22width%22%3A1781%2C%22height%22%3A2109%7D%2C%22square_320-caas%22%3A%7B%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2F2aea6a152ccce975270cc4c401f719cf88ae54ab851c711a02551d72179043eb%22%2C%22width%22%3A320%2C%22height%22%3A320%7D%2C%22square_480-caas%22%3A%7B%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2Fccefcf8a1e7ee04dd373add11951b6514ad19d5068c09788e01717c5e15f23ff%22%2C%22width%22%3A480%2C%22height%22%3A480%7D%2C%22square_80-caas%22%3A%7B%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2F6f30d52df9f665da66b787b4dff908a3ed4d943712d06ec1db886b8b19175e13%22%2C%22width%22%3A80%2C%22height%22%3A80%7D%7D%7D%7D%5D%7D%7D%5D%7D%5D%2C%22byline%22%3A%7B%22customByline%22%3A%22%22%2C%22translator%22%3A%22%22%7D%2C%22sponsorship%22%3A%7B%22sponsorCheckbox%22%3Afalse%2C%22sponsorDateStart%22%3A%22%22%2C%22sponsorDateEnd%22%3A%22%22%2C%22sponsorName%22%3A%22%22%7D%2C%22paywall%22%3A%7B%22printFlag%22%3Afalse%2C%22automateFlag%22%3Anull%2C%22contentAccess%22%3A%220%22%2C%22copyright%22%3A%22SPH%22%2C%22agencySource%22%3A%22%22%7D%2C%22customBlurb%22%3Anull%2C%22storyContent%22%3A%7B%22blurb%22%3A%22%22%2C%22shortURL%22%3A%22%22%2C%22stockCode%22%3A%22%22%7D%2C%22displaySetting%22%3A%7B%22zbsgFlag%22%3Afalse%2C%22zbcomFlag%22%3Afalse%2C%22hideAuthorFlag%22%3Afalse%2C%22displayHeadline%22%3A%22%22%2C%22displayHeadlineZBCom%22%3A%22%22%2C%22englishHeadline%22%3A%22%22%2C%22englishBody%22%3A%22%22%2C%22externalURL%22%3A%22%22%2C%22displayType%22%3A%22mainNewsDefault%22%2C%22displayAssets%22%3A%22%22%2C%22hasAffiliateLabel%22%3Afalse%2C%22displayAssetsMultiple%22%3A%5B%5D%2C%22showRelatedLinksAndNewsletterSignupForm%22%3Atrue%2C%22hasUpdatedTimeDisplayed%22%3Afalse%2C%22noDuplication%22%3Afalse%2C%22hideFromBreakingNewsListing%22%3Afalse%2C%22hideFromSectionListing%22%3Afalse%2C%22sticky%22%3Afalse%2C%22publishToGoogleAMP%22%3Atrue%2C%22hideMedia%22%3Afalse%2C%22hideOutbrain%22%3Afalse%2C%22isWinnerPage%22%3Afalse%7D%2C%22campaignSetting%22%3A%7B%22campaignDisplay%22%3A%22ARTICLES%22%2C%22campaignType%22%3A%22REGULAR%22%7D%2C%22creditInfo%22%3A%7B%22compiledBy%22%3A%22%22%2C%22producer%22%3A%22%22%7D%2C%22seoFields%22%3A%7B%22metaTitle%22%3A%22%22%2C%22metaDescription%22%3A%22%22%2C%22metaRobots%22%3A%220%22%2C%22canonicalUrl%22%3A%22%22%7D%2C%22englishVariantFields%22%3A%7B%22isTranslated%22%3Afalse%7D%2C%22ogFields%22%3A%7B%22ogTitle%22%3A%22%22%2C%22ogDescription%22%3A%22%22%7D%2C%22cueFields%22%3A%7B%22noDuplication%22%3Afalse%7D%2C%22others%22%3A%7B%22storyThread%22%3A%22%22%2C%22storySource%22%3A%22%22%2C%22authoring%22%3A%22%22%2C%22removeAuthor%22%3Anull%2C%22editorialTag%22%3A%22%22%2C%22customUrlAlias%22%3Afalse%2C%22urlAlias%22%3A%22%22%2C%22urlHistory%22%3A%5B%5D%7D%2C%22storyline%22%3A%5B%22e1a26e67-9b28-421c-8814-c02553cc2f59%22%2C%227ab6e883-928c-484b-b510-e7f16adfd925%22%2C%22521b7bb7-4da3-4a65-8c9e-12ff3afcb792%22%2C%2226ddb397-bd50-4317-9825-a6dc90838b9b%22%2C%22c04a2676-4769-4749-9a60-721d45c3316a%22%2C%2287ab26b1-58db-49c9-8b1d-ab24b97a5bbc%22%2C%2250ad5587-0f2f-4b15-a82f-fe45daad87ac%22%2C%224bd6c5dc-9840-437d-a67f-004a36ce822b%22%2C%22c5c8e6c8-6ea1-4892-9486-920256f4057e%22%2C%224a6df65f-dae1-4f13-9130-9885590c8b54%22%2C%223c192fc5-2be2-4efb-9476-ba0e9135ac08%22%2C%22047c932e-8dbe-489c-b7e4-db35b8d8d179%22%2C%2262aefd99-581e-4ddb-92f4-d08b8cf517b0%22%2C%22b4e2835b-b18a-4455-bf6b-08ba31f6f229%22%2C%22b4f1aa32-298a-4e75-a2ef-6842be0b88e7%22%2C%221dc60949-8be0-4a38-95e9-63287be95eb4%22%2C%22017c50aa-a31c-4dc0-9049-1cb0fc1b75d3%22%2C%228fd94d5c-6ad9-4619-92ea-43da40953be7%22%2C%22e462dfad-f57a-42ed-8318-f8b25b7dce15%22%2C%22a8ad6aef-2c03-4df9-94b8-8240b1b12de4%22%5D%2C%22embedcodes%22%3A%5B%5D%2C%22elements%22%3A%5B%7B%22id%22%3A%22e1a26e67-9b28-421c-8814-c02553cc2f59%22%2C%22type%22%3A%22slug%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22slug%22%2C%22value%22%3A%22tstoken4%22%2C%22annotations%22%3A%5B%5D%7D%5D%7D%2C%7B%22id%22%3A%227ab6e883-928c-484b-b510-e7f16adfd925%22%2C%22type%22%3A%22headline%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22headline%22%2C%22value%22%3A%22MAS%20to%20drive%20digital%20assets%20trading%2C%20announces%20plans%20for%20more%20tokenisation%22%2C%22annotations%22%3A%5B%5D%7D%5D%7D%2C%7B%22id%22%3A%22521b7bb7-4da3-4a65-8c9e-12ff3afcb792%22%2C%22type%22%3A%22kicker%22%2C%22fields%22%3A%5B%5D%7D%2C%7B%22id%22%3A%2226ddb397-bd50-4317-9825-a6dc90838b9b%22%2C%22type%22%3A%22standfirst%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22standfirst%22%2C%22value%22%3A%22While%20there%20is%20%E2%80%98greater%20momentum%E2%80%99%20in%20financial%20services%2C%20the%20process%20has%20yet%20to%20achieve%20industry-wide%20scale%2C%20says%20central%20bank%20official%22%2C%22annotations%22%3A%5B%5D%7D%5D%7D%2C%7B%22id%22%3A%22c04a2676-4769-4749-9a60-721d45c3316a%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22SINGAPORE%E2%80%99S%20central%20bank%C2%A0on%20Monday%20(Nov%204)%20said%20that%20asset%20tokenisation%20across%20financial%20services%20is%20reaching%20an%20%E2%80%9Cinflexion%20point%E2%80%9D%2C%20as%20it%20announced%20plans%20to%20drive%20adoption%20of%20the%20process%20in%20this%20industry.%20%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%2C%7B%22id%22%3A%2287ab26b1-58db-49c9-8b1d-ab24b97a5bbc%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22Asset%20tokenisation%20refers%20to%20the%20process%20of%20digitally%20representing%20assets%20on%20the%20blockchain.%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%2C%7B%22id%22%3A%2250ad5587-0f2f-4b15-a82f-fe45daad87ac%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22Leong%20Sing%20Cheong%2C%20deputy%20managing%20director%20for%20markets%20and%20development%20at%20the%20Monetary%20Authority%20of%20Singapore%20(MAS)%2C%20said%20that%20while%20there%20is%20%E2%80%9Cgreater%20momentum%E2%80%9D%20towards%20tokenisation%20in%20financial%20services%2C%20it%20has%20yet%20to%20achieve%20industry-wide%20scale.%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%2C%7B%22id%22%3A%224bd6c5dc-9840-437d-a67f-004a36ce822b%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22MAS%20last%20year%20put%20forward%20a%20vision%20of%20financial%20assets%20being%20transacted%20across%20multiple%20trading%20platforms%20through%20digital%20assets%2C%20digital%20money%20and%20interoperable%20digital%20networks%2C%20he%20noted%2C%20adding%20that%20central%20banks%20have%20been%20active%20in%20exploring%20the%20use%20and%20development%20of%20central%20bank%20digital%20currencies.%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%2C%7B%22id%22%3A%22c5c8e6c8-6ea1-4892-9486-920256f4057e%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22%E2%80%9CAll%20these%20efforts%20point%20to%20the%20fact%20that%20interest%20and%20investment%20in%20asset%20tokenisation%20is%20deepening%20across%20asset%20classes%2C%20jurisdictions%20and%20currencies%2C%E2%80%9D%20Leong%20said%20at%20the%20inaugural%20Layer%20One%20Summit%20on%20Monday.%20%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%2C%7B%22id%22%3A%224a6df65f-dae1-4f13-9130-9885590c8b54%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22%E2%80%9CHowever%2C%20my%20sense%20is%20that%20we%20have%20reached%20an%20inflexion%20point.%E2%80%9D%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%2C%7B%22id%22%3A%223c192fc5-2be2-4efb-9476-ba0e9135ac08%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22He%20added%3A%20%E2%80%9CNotwithstanding%20the%20significant%20efforts%20of%20various%20players%20to%20push%20the%20boundaries%20of%20tokenisation%20in%20financial%20services%2C%20no%20one%20has%20really%20succeeded%20in%20achieving%20scale.%E2%80%9D%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%2C%7B%22id%22%3A%22047c932e-8dbe-489c-b7e4-db35b8d8d179%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22Many%20%E2%80%9Cpromising%E2%80%9D%20use%20cases%20have%20not%20yet%20gained%20industry-wide%20traction%2C%20and%20there%20is%20a%20need%20for%20supporting%20infrastructure%20to%20enable%20good%20use%20cases%20to%20expand%2C%20he%20also%20said.%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%2C%7B%22id%22%3A%2262aefd99-581e-4ddb-92f4-d08b8cf517b0%22%2C%22type%22%3A%22sub_head%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22subhead%22%2C%22value%22%3A%22New%20measures%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22headings%22%2C%22value%22%3A%22h2%22%2C%22annotations%22%3A%5B%5D%7D%5D%7D%2C%7B%22id%22%3A%22b4e2835b-b18a-4455-bf6b-08ba31f6f229%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22In%20a%20separate%20press%20release%2C%20MAS%20announced%20various%20initiatives%20to%20address%20that.%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%2C%7B%22id%22%3A%22b4f1aa32-298a-4e75-a2ef-6842be0b88e7%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22Among%20them%20is%20supporting%20industry%20efforts%20to%20build%20commercial%20networks%20for%20payments%2C%20capital%20raising%2C%20and%20secondary%20trading%20of%20tokenised%20assets.%20This%20is%20as%20deeper%20liquidity%20across%20primary%20and%20secondary%20markets%20is%20vital%20for%20tokenisation%20to%20be%20viable%2C%20MAS%20said.%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%2C%7B%22id%22%3A%221dc60949-8be0-4a38-95e9-63287be95eb4%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22The%20agency%20had%20previously%20set%20up%20an%20initiative%20called%20Project%20Guardian%20to%20carry%20out%20industry%20trials%2C%20and%20it%20is%20now%20facilitating%20the%20formation%20of%20commercial%20networks.%20This%20is%20as%20the%20involvement%20of%20multiple%20participants%2C%20alongside%20support%20for%20multi-asset%20and%20multi-currency%20transactions%2C%20can%20engender%20deeper%20liquidity%20for%20tokenised%20asset%20transactions.%20%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%2C%7B%22id%22%3A%22017c50aa-a31c-4dc0-9049-1cb0fc1b75d3%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22To%20that%20end%2C%20the%20Guardian%20Wholesale%20Network%20Industry%20Group%20%E2%80%93%20a%20multi-member%20network%20built%20by%20Citi%2C%20HSBC%2C%20Schroders%2C%20Standard%20Chartered%20and%20UOB%20with%20the%20purpose%20of%20commercialising%20and%20scaling%20their%20respective%20asset%20tokenisation%20trials%20%E2%80%93%20was%20formed.%20%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%2C%7B%22id%22%3A%228fd94d5c-6ad9-4619-92ea-43da40953be7%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22The%20absence%20of%20universal%20standards%20for%20digital%20assets%20raises%20the%20costs%20of%20adopting%20them%2C%20as%20financial%20institutions%20need%20to%20invest%20in%20and%20support%20different%20technologies%2C%20said%20Leong.%20%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%2C%7B%22id%22%3A%22e462dfad-f57a-42ed-8318-f8b25b7dce15%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22The%20Guardian%20Fixed%20Income%20Framework%20will%20address%20this%2C%20as%20it%20is%20built%20to%20allow%20for%20a%20%E2%80%9Cstandardised%20approach%E2%80%9D%20towards%20tokenisation%20in%20fixed%20income%20markets.%20An%20equivalent%20framework%20for%20asset%20and%20wealth%20management%20will%20be%20the%20Guardian%20Funds%20Framework%2C%20said%20MAS.%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%2C%7B%22id%22%3A%22a8ad6aef-2c03-4df9-94b8-8240b1b12de4%22%2C%22type%22%3A%22paragraph%22%2C%22fields%22%3A%5B%7B%22name%22%3A%22paragraph%22%2C%22value%22%3A%22Other%20new%20initiatives%20include%20the%20launch%20of%20a%20wholesale%20central%20bank%20digital%20currency%2C%20dubbed%20the%20SGD%20Testnet%2C%20to%20provide%20financial%20institutions%20with%20access%20to%20common%20settlement%20assets%20for%20market%20testing%20purposes.%C2%A0%22%2C%22annotations%22%3A%5B%5D%7D%2C%7B%22name%22%3A%22displayDropCap%22%2C%22booleanValue%22%3Afalse%7D%2C%7B%22name%22%3A%22disableAutolink%22%2C%22booleanValue%22%3Atrue%7D%5D%7D%5D%2C%22cookUrl%22%3A%22http%3A%2F%2Finternal-alb-cue-present-combined-prd-176055821.ap-southeast-1.elb.amazonaws.com%3A8101%2Fbusinesstimes%2Fwealth%2Fcrypto-alternative-assets%2Fmas-drive-digital-assets-trading-announces-plans-more-tokenisation%22%2C%22sanitizedRelatedStories%22%3A%5B%7B%22id%22%3A%225255382%22%2C%22title%22%3A%22Rise%20of%20crypto%20custody%20as%20more%20financial%20institutions%20enter%20digital%20asset%20space%22%2C%22urlPath%22%3A%22%2Fcompanies-markets%2Fbanking-finance%2Fsingapore-fintech-festival-2024%2Frise-crypto-custody-more-financial-institutions-enter-digital-asset-space%22%2C%22media%22%3A%5B%7B%22summary%22%3A%5B%7B%22value%22%3A%22US-based%20Ripple%20provides%20enterprise%20solutions%20that%20leverage%20the%20cryptocurrency%20XRP.%20%22%2C%22key%22%3A%22caption%22%7D%2C%7B%22value%22%3A%22PHOTO%3A%20GETTY%20IMAGES%22%2C%22key%22%3A%22credit%22%7D%2C%7B%22value%22%3A%22gopixa%22%2C%22key%22%3A%22byline%22%7D%2C%7B%22value%22%3A%22US-based%20Ripple%20provides%20enterprise%20solutions%20that%20leverage%20the%20cryptocurrency%20XRP.%20%22%2C%22key%22%3A%22alttext%22%7D%5D%2C%22href%22%3A%22http%3A%2F%2Finternal-alb-cue-presentation-cue-prd-1122320581.ap-southeast-1.elb.amazonaws.com%3A8080%2Fwebservice%2Fescenic%2Fcontent%2F5255374%22%2C%22content%22%3A%7B%22sourceId%22%3A%22a6b088c6-aad9-4f76-84c8-bb7a54f08557%22%2C%22binaryLink%22%3A%22http%3A%2F%2Finternal-alb-cue-presentation-cue-prd-1122320581.ap-southeast-1.elb.amazonaws.com%3A8080%2Fwebservice%2Fescenic%2Fbinary%2F5255374%2F2024%2F10%2F27%2F21%2FRipple%2Bmain.jpeg%22%2C%22id%22%3A%225255374%22%2C%22source%22%3A%22ece-auto-gen%22%2C%22type%22%3A%22picture%22%2C%22fields%22%3A%7B%22square_30_26-caas%22%3A%7B%22width%22%3A1140%2C%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2Ff272f6531ce947c14fc033bb5b7af558904b74eae0816330800cb40b1aaf5540%22%2C%22height%22%3A987%7D%2C%22original%22%3A%7B%22width%22%3A1200%2C%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Feblg9k-ripple-main.jpeg%2Falternates%2FORIGINAL%2FRipple%2520main.jpeg%22%2C%22height%22%3A-1%7D%2C%22landscape480%22%3A%7B%22href_full%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Feblg9k-ripple-main.jpeg%2Falternates%2FLANDSCAPE_480%2FRipple%2520main.jpeg%22%2C%22width%22%3A480%2C%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Feblg9k-ripple-main.jpeg%2Falternates%2FLANDSCAPE_480%2FRipple%2520main.jpeg%22%2C%22height%22%3A320%7D%2C%22landscape1024%22%3A%7B%22href_full%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Feblg9k-ripple-main.jpeg%2Falternates%2FLANDSCAPE_1024%2FRipple%2520main.jpeg%22%2C%22width%22%3A1024%2C%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Feblg9k-ripple-main.jpeg%2Falternates%2FLANDSCAPE_1024%2FRipple%2520main.jpeg%22%2C%22height%22%3A682%7D%2C%22wide%22%3A%7B%22width%22%3A1140%2C%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Feblg9k-ripple-main.jpeg%2Falternates%2FBASE_WIDE%2FRipple%2520main.jpeg%22%2C%22height%22%3A485%7D%2C%22original-caas%22%3A%7B%22width%22%3A1536%2C%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2Ff9539075dc4e4527ff56286d0e1ecca0a272bfe32cfa92010eb96780755d8227%22%2C%22height%22%3A1024%7D%2C%22landscape-caas%22%3A%7B%22width%22%3A1140%2C%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2Fdc8621ce154b4562e5336922ec1be9c43038ee23eaa18de02a2f0220d5c9df53%22%2C%22height%22%3A760%7D%2C%22square-caas%22%3A%7B%22width%22%3A1140%2C%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2Ff6a0c90cfa2ff6d1c94e9a9f738c629fa36e1a68014dd74525a27d19ae140ffe%22%2C%22height%22%3A1140%7D%2C%22caption%22%3A%22Crypto%20currency%20coin%20ripple%20with%20several%20stacks%20of%20coins%20in%20the%20background%22%2C%22freecrop%22%3A%7B%22width%22%3A1140%2C%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Feblg9k-ripple-main.jpeg%2Falternates%2FBASE_FREE%2FRipple%2520main.jpeg%22%2C%22height%22%3A-1%7D%2C%22com_escenic_defaultmetadata%22%3A%5B%7B%22value%22%3A%22gopixa%22%2C%22key%22%3A%22Artist%22%7D%2C%7B%22value%22%3A%22345707%22%2C%22key%22%3A%22content-length%22%7D%2C%7B%22value%22%3A%22%2B08%3A00%22%2C%22key%22%3A%22Time%20Zone%22%7D%2C%7B%22value%22%3A%22offer%20economic%20bubble%20financial%20service%20speculative%20bubble%20form%20of%20investment%20money%20investment%20digital%20capital%20market%20xrp%20digital%20currency%20financial%20management%20trade%20financial%20industry%20ripple%20crypto%20money%22%2C%22key%22%3A%22Keywords%22%7D%2C%7B%22value%22%3A%22DEU%22%2C%22key%22%3A%22Country%2FPrimary%20Location%20Code%22%7D%2C%7B%22value%22%3A%222.21%22%2C%22key%22%3A%22Exif%20Version%22%7D%2C%7B%22value%22%3A%22YCbCr%22%2C%22key%22%3A%22Components%20Configuration%22%7D%2C%7B%22value%22%3A%221.00%22%2C%22key%22%3A%22FlashPix%20Version%22%7D%2C%7B%22value%22%3A%22000%22%2C%22key%22%3A%22Sub-Sec%20Time%20Original%22%7D%2C%7B%22value%22%3A%22Crypto%20currency%20coin%20ripple%20with%20several%20stacks%20of%20coins%20in%20the%20background%22%2C%22key%22%3A%22Image%20Description%22%7D%2C%7B%22value%22%3A%22gopixa%22%2C%22key%22%3A%22By-line%22%7D%2C%7B%22value%22%3A%22000%22%2C%22key%22%3A%22Sub-Sec%20Time%20Digitized%22%7D%2C%7B%22value%22%3A%222%22%2C%22key%22%3A%22com.escenic.binary.version%22%7D%2C%7B%22value%22%3A%22947893638%22%2C%22key%22%3A%22Object%20Name%22%7D%2C%7B%22value%22%3A%222018%3A04%3A12%2007%3A00%3A00%22%2C%22key%22%3A%22Date%2FTime%20Original%22%7D%2C%7B%22value%22%3A%22iStock%20Editorial%22%2C%22key%22%3A%22Source%22%7D%2C%7B%22value%22%3A%22300%20dots%20per%20inch%22%2C%22key%22%3A%22X%20Resolution%22%7D%2C%7B%22value%22%3A%221730034122143%22%2C%22key%22%3A%22last-modified%22%7D%2C%7B%22value%22%3A%22Getty%20Images%22%2C%22key%22%3A%22Credit%22%7D%2C%7B%22value%22%3A%22Germany%22%2C%22key%22%3A%22Country%2FPrimary%20Location%20Name%22%7D%2C%7B%22value%22%3A%22Cryptocurrency%20Ripple%22%2C%22key%22%3A%22Headline%22%7D%2C%7B%22value%22%3A%222018%3A04%3A12%2007%3A00%3A00%22%2C%22key%22%3A%22Date%2FTime%20Digitized%22%7D%2C%7B%22value%22%3A%222%22%2C%22key%22%3A%22Application%20Record%20Version%22%7D%2C%7B%22value%22%3A%22070000%2B0800%22%2C%22key%22%3A%22Time%20Created%22%7D%2C%7B%22value%22%3A%221024%22%2C%22key%22%3A%22height%22%7D%2C%7B%22value%22%3A%22Contributor%22%2C%22key%22%3A%22By-line%20Title%22%7D%2C%7B%22value%22%3A%22%2B08%3A00%22%2C%22key%22%3A%22Time%20Zone%20Digitized%22%7D%2C%7B%22value%22%3A%22image%2Fjpeg%22%2C%22key%22%3A%22mime-type%22%7D%2C%7B%22value%22%3A%222018%3A04%3A12%2007%3A00%3A00%22%2C%22key%22%3A%22Date%2FTime%22%7D%2C%7B%22value%22%3A%22JPEG%22%2C%22key%22%3A%22format%22%7D%2C%7B%22value%22%3A%22Crypto%20currency%20coin%20ripple%20with%20several%20stacks%20of%20coins%20in%20the%20background%22%2C%22key%22%3A%22Caption%2FAbstract%22%7D%2C%7B%22value%22%3A%221536%20pixels%22%2C%22key%22%3A%22Exif%20Image%20Width%22%7D%2C%7B%22value%22%3A%22Top%2C%20left%20side%20(Horizontal%20%2F%20normal)%22%2C%22key%22%3A%22Orientation%22%7D%2C%7B%22value%22%3A%22Inch%22%2C%22key%22%3A%22Resolution%20Unit%22%7D%2C%7B%22value%22%3A%22%2B08%3A00%22%2C%22key%22%3A%22Time%20Zone%20Original%22%7D%2C%7B%22value%22%3A%22Not%20Released%20(NR)%20%22%2C%22key%22%3A%22Special%20Instructions%22%7D%2C%7B%22value%22%3A%22Standard%22%2C%22key%22%3A%22Scene%20Capture%20Type%22%7D%2C%7B%22value%22%3A%221536%22%2C%22key%22%3A%22width%22%7D%2C%7B%22value%22%3A%221024%20pixels%22%2C%22key%22%3A%22Exif%20Image%20Height%22%7D%2C%7B%22value%22%3A%22Stock%20Photo%20Manager%20%40%20Frank%20Merfort%20-%20http%3A%2F%2Fwww.frank-merfort.de%22%2C%22key%22%3A%22Software%22%7D%2C%7B%22value%22%3A%22Ripple%20main.jpeg%22%2C%22key%22%3A%22file-name%22%7D%2C%7B%22value%22%3A%2251%22%2C%22key%22%3A%22Urgency%22%7D%2C%7B%22value%22%3A%2220180412%22%2C%22key%22%3A%22Date%20Created%22%7D%2C%7B%22value%22%3A%22000%22%2C%22key%22%3A%22Sub-Sec%20Time%22%7D%2C%7B%22value%22%3A%22image%2Fjpeg%22%2C%22key%22%3A%22original-mime-type%22%7D%2C%7B%22value%22%3A%22300%20dots%20per%20inch%22%2C%22key%22%3A%22Y%20Resolution%22%7D%5D%2C%22portrait%22%3A%7B%22width%22%3A1140%2C%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Feblg9k-ripple-main.jpeg%2Falternates%2FBASE_PORTRAIT%2FRipple%2520main.jpeg%22%2C%22height%22%3A2026%7D%2C%22portrait-caas%22%3A%7B%22width%22%3A1140%2C%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2F689ad09ab33ae3f318711461a0994b0be90401284bbcb01e1d868d7e2a6efd4c%22%2C%22height%22%3A2026%7D%2C%22landscape480-caas%22%3A%7B%22width%22%3A480%2C%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2F9638d6328925a97a162af0e92b52f09f620e8e5f162437c56538892f6d747742%22%2C%22height%22%3A320%7D%2C%22square%22%3A%7B%22width%22%3A1140%2C%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Feblg9k-ripple-main.jpeg%2Falternates%2FBASE_SQUARE%2FRipple%2520main.jpeg%22%2C%22height%22%3A1140%7D%2C%22wide-caas%22%3A%7B%22width%22%3A1140%2C%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2F987de98a647a6c15770e92407fee5307e54bd84a77bd46552cc95c2276339163%22%2C%22height%22%3A485%7D%2C%22square_30_26%22%3A%7B%22width%22%3A1140%2C%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Feblg9k-ripple-main.jpeg%2Falternates%2FBASE_SQUARE_30_26%2FRipple%2520main.jpeg%22%2C%22height%22%3A987%7D%2C%22credit%22%3A%22Getty%20Images%22%2C%22landscape1024-caas%22%3A%7B%22width%22%3A1024%2C%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2F2a0c4b772110e2279ce90522fd7f1ac1f058293c0f585b1dcbe02a21dcdc8dba%22%2C%22height%22%3A682%7D%2C%22freecrop-caas%22%3A%7B%22width%22%3A1140%2C%22url%22%3A%22https%3A%2F%2Fcassette.sphdigital.com.sg%2Fimage%2Fbusinesstimes%2Fdc8621ce154b4562e5336922ec1be9c43038ee23eaa18de02a2f0220d5c9df53%22%2C%22height%22%3A760%7D%2C%22landscape%22%3A%7B%22width%22%3A1140%2C%22url%22%3A%22https%3A%2F%2Fimg.businesstimes.cue-prd.sph.com.sg%2Fpublic%2Fincoming%2Feblg9k-ripple-main.jpeg%2Falternates%2FBASE_LANDSCAPE%2FRipple%2520main.jpeg%22%2C%22height%22%3A760%7D%7D%2C%22alternates%22%3A%7B%22com_escenic_master%22%3A%7B%22auto%22%3Anull%2C%22x%22%3A0%2C%22width%22%3A0%2C%22y%22%3A0%2C%22height%22%3A0%7D%2C%22BASE_LANDSCAPE%22%3A%7B%22auto%22%3Afalse%2C%22x%22%3A0%2C%22width%22%3A0%2C%22y%22%3A0%2C%22height%22%3A0%7D%2C%22BASE_SQUARE_30_26%22%3A%7B%22auto%22%3Anull%2C%22x%22%3A0%2C%22width%22%3A0%2C%22y%22%3A0%2C%22height%22%3A0%7D%2C%22BASE_WIDE%22%3A%7B%22auto%22%3Anull%2C%22x%22%3A0%2C%22width%22%3A0%2C%22y%22%3A0%2C%22height%22%3A0%7D%2C%22BASE_SQUARE%22%3A%7B%22auto%22%3Anull%2C%22x%22%3A0%2C%22width%22%3A0%2C%22y%22%3A0%2C%22height%22%3A0%7D%2C%22ORIGINAL%22%3A%7B%22auto%22%3Anull%2C%22x%22%3A0%2C%22width%22%3A0%2C%22y%22%3A0%2C%22height%22%3A0%7D%2C%22BASE_FREE%22%3A%7B%22auto%22%3Anull%2C%22x%22%3A0%2C%22width%22%3A0%2C%22y%22%3A0%2C%22height%22%3A0%7D%2C%22poi%22%3A%7B%22auto%22%3Anull%2C%22top%22%3A0%2C%22left%22%3A0%7D%2C%22BASE_PORTRAIT%22%3A%7B%22auto%22%3Anull%2C%22x%22%3A0%2C%22width%22%3A0%2C%22y%22%3A0%2C%22height%22%3A0%7D%7D%7D%7D%5D%2C%22sections%22%3A%5B%7B%22parent%22%3A%7B%22parent%22%3A%7B%22uniqueName%22%3A%22ece_frontpage%22%2C%22name%22%3A%22Home%22%2C%22directoryName%22%3A%22frontpage%22%7D%2C%22uniqueName%22%3A%22companies-markets%22%2C%22name%22%3A%22Companies%20%26%20Markets%22%2C%22directoryName%22%3A%22companies-markets%22%7D%2C%22uniqueName%22%3A%22companies-markets_banking-finance%22%2C%22name%22%3A%22Banking%20%26%20Finance%22%2C%22href%22%3A%22https%3A%2F%2Fbusinesstimes.cue-prd.sphnet.com.sg%2Fcompanies-markets%2Fbanking-finance%2F%22%2C%22parameters%22%3A%5B%5D%2C%22directoryName%22%3A%22banking-finance%22%7D%5D%7D%5D%2C%22sort%22%3A%5B1730713610000%5D%2C%22shortUrl%22%3A%22https%3A%2F%2Fbt.sg%2FfwmH%22%7D%7D%7D%2C%22sectionNews%22%3A%5B%7B%22id%22%3A%225326511%22%2C%22title%22%3A%22Bitcoin%20soars%20above%20US%2482%2C000%20as%20Trump%20win%20boosts%20crypto%20prospects%22%2C%22created%22%3A%222024-11-11T05%3A16%3A42.000Z%22%2C%22edited%22%3A%222024-11-12T02%3A50%3A01.000Z%22%2C%22updated%22%3A%222024-11-11T05%3A16%3A53.000Z%22%2C%22urlPath%22%3A%22%2Fwealth%2Fcrypto-alternative-assets%2Fbitcoin-soars-above-us82000-trump-win-boosts-crypto-prospects%22%2C%22slug%22%3A%22%2Fwealth%2Fcrypto-alternative-assets%2Fbitcoin-soars-above-us82000-trump-win-boosts-crypto-prospects%22%7D%2C%7B%22id%22%3A%225323779%22%2C%22title%22%3A%22Bitcoin%20on%20cusp%20of%20US%2480%2C000%20for%20first%20time%20on%20optimism%20over%20Trump%22%2C%22created%22%3A%222024-11-10T09%3A28%3A59.000Z%22%2C%22edited%22%3A%222024-11-10T09%3A34%3A49.000Z%22%2C%22updated%22%3A%222024-11-10T09%3A34%3A49.000Z%22%2C%22urlPath%22%3A%22%2Fcompanies-markets%2Fbanking-finance%2Fbitcoin-cusp-us80000-first-time-optimism-over-trump%22%2C%22slug%22%3A%22%2Fcompanies-markets%2Fbanking-finance%2Fbitcoin-cusp-us80000-first-time-optimism-over-trump%22%7D%2C%7B%22id%22%3A%225293777%22%2C%22title%22%3A%22MAS%20to%20drive%20digital%20assets%20trading%2C%20announces%20plans%20for%20more%20tokenisation%22%2C%22created%22%3A%222024-11-04T07%3A18%3A56.000Z%22%2C%22edited%22%3A%222024-11-04T09%3A46%3A50.000Z%22%2C%22updated%22%3A%222024-11-04T09%3A46%3A50.000Z%22%2C%22urlPath%22%3A%22%2Fwealth%2Fcrypto-alternative-assets%2Fmas-drive-digital-assets-trading-announces-plans-more-tokenisation%22%2C%22slug%22%3A%22%2Fwealth%2Fcrypto-alternative-assets%2Fmas-drive-digital-assets-trading-announces-plans-more-tokenisation%22%7D%2C%7B%22id%22%3A%225151715%22%2C%22title%22%3A%22Investors%20remain%20cautious%20on%20digital%20assets%20despite%20growing%20interest%22%2C%22created%22%3A%222024-10-16T09%3A20%3A13.000Z%22%2C%22edited%22%3A%222024-10-16T10%3A39%3A59.000Z%22%2C%22updated%22%3A%222024-10-17T02%3A00%3A00.000Z%22%2C%22urlPath%22%3A%22%2Fwealth%2Finvestors-remain-cautious-digital-assets-despite-growing-interest%22%2C%22slug%22%3A%22%2Fwealth%2Finvestors-remain-cautious-digital-assets-despite-growing-interest%22%7D%2C%7B%22id%22%3A%224724936%22%2C%22title%22%3A%22MicroStrategy%E2%80%99s%20latest%20US%241.1%20billion%20Bitcoin%20purchase%20is%20largest%20since%202021%22%2C%22created%22%3A%222024-09-13T15%3A07%3A21.000Z%22%2C%22edited%22%3A%222024-09-13T15%3A17%3A51.000Z%22%2C%22updated%22%3A%222024-09-13T15%3A17%3A51.000Z%22%2C%22urlPath%22%3A%22%2Fwealth%2Fcrypto-alternative-assets%2Fmicrostrategys-latest-us1-1-billion-bitcoin-purchase-largest-2021%22%2C%22slug%22%3A%22%2Fwealth%2Fcrypto-alternative-assets%2Fmicrostrategys-latest-us1-1-billion-bitcoin-purchase-largest-2021%22%7D%2C%7B%22id%22%3A%224580783%22%2C%22title%22%3A%22Potential%20government%20sales%20of%20Bitcoin%20unnerves%20crypto%20market%22%2C%22created%22%3A%222024-08-30T08%3A41%3A23.000Z%22%2C%22edited%22%3A%222024-08-30T08%3A51%3A55.000Z%22%2C%22updated%22%3A%222024-08-30T08%3A51%3A55.000Z%22%2C%22urlPath%22%3A%22%2Fwealth%2Fcrypto-alternative-assets%2Fpotential-government-sales-bitcoin-unnerves-crypto-market%22%2C%22slug%22%3A%22%2Fwealth%2Fcrypto-alternative-assets%2Fpotential-government-sales-bitcoin-unnerves-crypto-market%22%7D%2C%7B%22id%22%3A%224532503%22%2C%22title%22%3A%22Kraken%20must%20face%20SEC%20suit%20over%20crypto%20exchange%20registration%22%2C%22created%22%3A%222024-08-23T23%3A23%3A35.000Z%22%2C%22edited%22%3A%222024-08-23T23%3A35%3A19.000Z%22%2C%22updated%22%3A%222024-08-23T23%3A45%3A00.000Z%22%2C%22urlPath%22%3A%22%2Fwealth%2Fcrypto-alternative-assets%2Fkraken-must-face-sec-suit-over-crypto-exchange-registration%22%2C%22slug%22%3A%22%2Fwealth%2Fcrypto-alternative-assets%2Fkraken-must-face-sec-suit-over-crypto-exchange-registration%22%7D%2C%7B%22id%22%3A%224308118%22%2C%22title%22%3A%22Bitcoin%20hits%201-month%20high%2C%20revives%20talk%20of%20another%20record%20run%22%2C%22created%22%3A%222024-07-20T00%3A33%3A39.000Z%22%2C%22edited%22%3A%222024-07-20T01%3A34%3A00.000Z%22%2C%22updated%22%3A%222024-07-20T01%3A34%3A00.000Z%22%2C%22urlPath%22%3A%22%2Fcompanies-markets%2Fbitcoin-hits-1-month-high-revives-talk-another-record-run%22%2C%22slug%22%3A%22%2Fcompanies-markets%2Fbitcoin-hits-1-month-high-revives-talk-another-record-run%22%7D%2C%7B%22id%22%3A%223990715%22%2C%22title%22%3A%22Vietnam%E2%80%99s%20AI%20and%20crypto%20sectors%20brace%20for%20impact%20as%20tighter%20regulations%20approach%22%2C%22created%22%3A%222024-06-28T03%3A49%3A08.000Z%22%2C%22edited%22%3A%222024-06-28T09%3A54%3A23.000Z%22%2C%22updated%22%3A%222024-06-30T21%3A00%3A00.000Z%22%2C%22urlPath%22%3A%22%2Finternational%2Fasean%2Fvietnams-ai-and-crypto-sectors-brace-impact-tighter-regulations-approach%22%2C%22slug%22%3A%22%2Finternational%2Fasean%2Fvietnams-ai-and-crypto-sectors-brace-impact-tighter-regulations-approach%22%7D%5D%2C%22seeAlso%22%3A%7B%22articleId%22%3A%225404880%22%2C%22title%22%3A%22Financial%20institutions%2C%20companies%20in%20Singapore%20have%20enough%20buffer%20to%20weather%20shocks%3A%20MAS%22%2C%22slug%22%3A%22%2Fcompanies-markets%2Ffinancial-institutions-companies-singapore-have-enough-buffer-weather-shocks-mas%22%7D%2C%22isPreview%22%3Afalse%7D%7D%7D\"},\"actionData\":null,\"errors\":null}");</script></div> <div id="mysph" lan="en" svc="bts"></div> <script type="text/javascript"> var _mySPHObj; </script> </body> </html>