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The Monetary Authority of Singapore (MAS) is set to push ahead with digital asset projects. MAS is working with Japan’s Financial Services Agency (FSA), the Swiss Financial Market Supervisory Authority (FINMA), and the UK Financial Conduct Authority (FCA) to promote digital asset projects in fixed asset s, foreign currencies, and asset management products. MAS has also engaged 15 financial institutions to conduct industry pilots on asset tokenization in fixed income, foreign exchange, and asset management products. Dense projects have shown the potential to gain significant market and transaction efficiencies from tokenization. “As the pilots grow in scale and sophistication, there is a need for closer cross-border collaboration among policymakers and regulators. MAS has therefore established a Project Guardian policymaker group comprising FSA, FCA, and FINMA.” Singapore’s MAS Leong Sing Chiong, Deputy Managing Director (Markets and Development) at MAS, concluded...

Chainalysis, a blockchain Analysis company backed by Singapore’s leading wealth fund GIC, has reduced its workforce by 15%. According to Bloomberg, the firm plans to curb expenses for potential long-term growth. Chainalysis had around 900 employees before the layoffs and has reduced its workforce by 135 people. “We are very focused on growing efficiently and, due to market conditions, believe it’s necessary to reduce our expenses at this time.” A Chainalysis spokesperson told Bloomberg. Moreover, the report revealed that the blockchain Analysis company, founded in 2014, laid off around 5% of its employees in February this year.  You might also like: FTX’s Bankman-Fried contemplated paying Trump $5b not to run for president However, the Chainalysis spokesperson believes the firm is “well-positioned for long-term success” and will continue to “build trust in blockchains among government agencies, financial institutions, and cryptocurrency businesses.” In mid-Dec...