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Deutsche Bundesbank and Singapore: Revolution in digital payments!
The Monetary Authority of Singapore and the Deutsche Bundesbank are collaborating to develop cost-effective cross-border digital asset settlements.
Deutsche Bundesbank and Singapore: Revolution in digital payments!
The Monetary Authority of Singapore (MAS) and the Deutsche Bundesbank have agreed on a groundbreaking cooperation to develop cross-border digital asset settlements. This collaboration has been documented in a Memorandum of Understanding (MoU), which aims to make international transactions faster and cheaper. The agreement was signed during the annual FinTech Festival in Singapore, a sign of the increasing importance of digital technologies in the financial sector.
The signing took place in the presence of important personalities, including MAS Deputy Managing Director Leong Sing Chiong, Deutsche Bundesbank Executive Board member Burkhard Balz, and Alexandra Hachmeister, the General Director of the digital euro. Leong Sing Chiong expressed the hope that this partnership will significantly improve financial connectivity between Germany and Singapore.
Technological innovation and standards
A central element of the collaboration is the development of universal standards for tokenized assets, payments and securities. The two central banks intend to work together on technological and financial initiatives to develop new settlement solutions that will reduce the cost of cross-border transactions and increase the speed of settlement. These standards are also intended to regulate tokenized real-world assets in order to improve interoperability between different crypto platforms.
Burkhard Balz emphasized the need for this partnership to drive technological innovation and introduce new standards for international payments and securities transactions. The initiative builds on Singapore's Project Guardian, which launched in 2022. This project involves over 40 financial institutions, industry associations and regulators and aims to accelerate the tokenization of financial assets and create a digital asset ecosystem in Singapore.
International collaborations
Another interesting aspect of the current development is a similar collaboration agreed between the United Kingdom and Singapore in July 2025. These international partnerships are part of a larger trend aimed at standardizing and improving digital assets and their settlement across national borders.
The active cooperation between the MAS and the Deutsche Bundesbank will not only increase efficiency in the financial sector, but could also pave the way for innovative solutions and improved services in the area of cross-border payments. Joint technological advances could ultimately lead to the financial system becoming even more responsive to the needs of global markets.
Overall, this initiative demonstrates the commitment of both central banks to proactively address the challenges and opportunities in the area of digital asset settlements and lead the financial industry into a new era. The positive effects of this cooperation are important not only for those involved, but also for the global economy, as it aims to improve the quality and accessibility of financial services worldwide.