The Monetary Authority of Singapore (MAS) and Deutsche Bundesbank signed a memorandum of understanding to collaborate on the cross-border settlement of digital assets, aimed at supporting international financial transactions including between Singapore and Germany. The cooperation covers developing new settlement solutions to reduce the cost and processing time of cross-border transactions between the two countries, and promoting shared standards for cross-border payments, foreign exchange and securities transactions involving tokenised assets to improve interoperability between platforms. The partnership builds on MAS’s Project Guardian, a public-private initiative launched in May 2022, with Deutsche Bundesbank having joined the Guardian Policymaker Group in November 2024.
German Bundesbank 2025-11-13
Monetary Authority of Singapore and Deutsche Bundesbank sign MoU to cooperate on tokenisation and cross-border settlement of digital assets
The Monetary Authority of Singapore and Deutsche Bundesbank signed a memorandum to collaborate on cross-border digital asset settlement, enhancing financial transactions between Singapore and Germany. The partnership aims to develop settlement solutions to reduce costs and processing times, and promote shared standards for cross-border payments and tokenised asset transactions. This initiative builds on MAS’s Project Guardian, with Deutsche Bundesbank joining the Guardian Policymaker Group in November 2024.