The Monetary Authority of Singapore (MAS) and Deutsche Bundesbank have signed a Memorandum of Understanding (MOU) to collaborate on cross-border digital asset settlement. This partnership aims to develop innovative settlement solutions to reduce costs and processing times for transfers between Singapore and Germany. The initiative will also focus on establishing common standards for payments, foreign exchange, and securities flows involving tokenized assets. The agreement, signed during the Singapore Fintech Festival, builds on MAS's "Project Guardian," which seeks to enhance financial market efficiency through asset tokenization. Both central banks anticipate that this collaboration will strengthen financial ties between the two countries.