The Monetary Authority of Singapore (MAS) has begun developing a regulatory framework for stablecoins, with a focus on reserve backing and redemption reliability.

Odaily Planet Daily reports that the Monetary Authority of Singapore (MAS) is developing a regulatory framework for stablecoins, focusing on reserve backing and redemption reliability. The framework will also test tokenized bank liabilities and regulated stablecoin settlements. DBS Bank, OCBC Bank, and United Overseas Bank (UOB) have completed live trials of overnight interbank lending using the Singapore dollar wholesale central bank digital currency (CBDC). The MAS will expand these trials to include tokenized MAS bills settled in CBDC. (TechinAsia)