MAS to trial issuance of tokenised bills

MAS to trial issuance of tokenised bills

November 13, 2025 / Swedan Margen /


[SINGAPORE] The Monetary Authority of Singapore (MAS) announced that it will be trialling the issuance of tokenised bills to primary dealers, which will then be settled with central bank digital currencies (CBDCs).

This is a follow-up from a successful live trial of interbank overnight lending transactions using the first live trial issuance of the Singapore dollar wholesale CBDC by the three local banks.

More details on the tokenised MAS bills will be available next year, said MAS managing director Chia Der Jiun at the Singapore FinTech Festival on Thursday (Nov 13).

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