Singapore leverages Polygon and Aave in first DeFi wholesale markets transaction

Quick Take

  • The Monetary Authority of Singapore successfully completed a cross-currency transaction involving tokenized Japanese yen and Singapore dollar deposits.
  • DBS Bank, JPMorgan and SBI Digital Asset Holdings participated in the foreign exchange and government bond transactions.
  • Polygon and Aave Arc were used to take advantage of the Ethereum blockchain.

The Monetary Authority of Singapore (MAS) successfully completed a cross-currency transaction involving token