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Central African Republic announces plan to tokenize country’s minerals

Quick Take The Central African Republic’s government has identified the tokenization of its natural resources as the next step forward in its digitization efforts. The landlocked African nation became the first on the continent to adopt bitcoin as legal tender in April. The Central African Republic (CAR) revealed the next step in its bitcoin adoption journey with plans to tokenize access to its natural resources, according to a statement released on Thursday. The presidential news release said the CAR government …

Singapore regulator announces plans to explore blockchain use cases

The Monetary Authority of Singapore (MAS) announced on Tuesday that it plans to research use cases for decentralized finance (DeFi) on public blockchains. Known as Project Guardian and including partners such as JPMorgan, Marketnote and DBS, the project will look to collaborate with the financial industry to examine the “economic potential and value-adding use cases of asset tokenization.” In a statement, MAS defined tokenization as “the process of digitally representing assets or items of value through a smart contract on …

SWIFT will test how it might play a role in asset tokenization next year

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is planning to conduct a trial early next year that will see the global payments intermediary explore how it may play a role in the nascent asset tokenization market. “SWIFT, Clearstream, Northern Trust, SETL and other industry participants are exploring the feasibility and benefits of SWIFT as an interconnector, linking up multiple tokenisation platforms and various cash-leg payment types,” SWIFT said in a blog post published on December 1, noting: “As interest …