The Monetary Authority of Singapore (MAS) and the Deutsche Bundesbank have signed a memorandum of understanding to collaborate on cross-border digital asset settlement, with an initial focus on improving cross-border transactions between Singapore and Germany. The cooperation covers developing new settlement solutions intended to reduce the cost and processing time of cross-border transfers, and promoting common standards for cross-border payments, foreign exchange and securities flows involving tokenised assets to enhance interoperability across digital asset platforms. The MoU builds on MAS’ Project Guardian, which the Bundesbank joined via the Guardian Policymaker Group in November 2024, and was signed on the sidelines of the Singapore FinTech Festival by MAS Deputy Managing Director (Markets and Development) Leong Sing Chiong, Bundesbank Executive Board member Burkhard Balz and Director General Digital Euro Alexandra Hachmeister.
Monetary Authority of Singapore 2025-11-13
Monetary Authority of Singapore and Deutsche Bundesbank sign MoU to collaborate on tokenised asset settlement and cross-border standards
The Monetary Authority of Singapore and Deutsche Bundesbank signed a memorandum to collaborate on cross-border digital asset settlement, initially focusing on Singapore-Germany transactions. The cooperation aims to develop settlement solutions to reduce costs and processing times, and promote common standards for cross-border payments involving tokenised assets. This initiative builds on MAS’ Project Guardian, with the Bundesbank joining the Guardian Policymaker Group in November 2024.