November 15–17, PlatON, a digitalized public infrastructure, officially debuted at the Singapore FinTech Festival with TOPOS TDI, a deposit token issuance system, unlocking the Future with Emerging Web3 Payment. This is also a heavy landing product of PlatON since the release of TOPOS, the “Web3.0 Confidential Payment and Settlement System” at the “Hong Kong Web3 Carnival” in April this year, which helps financial institutions to issue Tokenized Deposit in a multi-chain, secure, and autonomous way.

On the first day of SFF 2023, the Monetary Authority of Singapore (MAS) announced that it is working with the financial industry to expand asset tokenisation initiatives and develop foundational capabilities to scale tokenised markets. The 17 financial institutions of Project Guardian have launched five industry pilot projects, involving HSBC, DBS Bank, JPMorgan’s digital asset platform Onyx, Standard Chartered Bank, Swift, UBS, UOB and others.

Coincidentally, the Hong Kong Securities and Futures Commission (SFC) also issued new guidelines to regulate tokenized securities-related activities. All this shows that financial institutions regard Tokenized Money as the first battle to occupy the core position of the future financial system, and it will become the core capability to link RWA in the future.

TOPOS TDI, which debuted this time, is a professional tokenized deposit issuance system that provides financial institutions with a compliant solution for independently deploying “stablecoins”. It aims to provide stable digital assets that meet regulatory requirements for the digital economy.

TOPOS TDI supports multi-chain issuance of Tokenized Deposit, as well as customizing business-related API interfaces, and provides RBAC permission management system, as well as audit and cross-chain issuance data records, making digital currency issuance more secure and efficient.

At present, the Singapore DCS Card Centre has successfully issued DUS payment token based on TOPOS TDI. The redemption of DUS for conversion into increasing a DCS cardholder’s spend limit or paying outstanding balances back to fiat is fast and seamless, as the transaction is executed instantly on D-Vault. TOPOS provides DCS with a complete underlying solution for compliant Tokenized Money issuance based on PlatON network, helping DCS to manage the minting, burning, and scenario use of tokens in a secure, stable, and clear way.

At the SFF 2023 site, PlatON also brought the open remittance network TOPOS RemiNet, as well as the demonstration of TOPOS on-chain payment acquiring product. They will jointly build the cornerstone of the TOPOS payment and settlement network with TOPOS TDI. In the future, PlatON will adhere to its commitment to security, protection and compliance, work closely with regulators and industry partners, strive to promote the widespread application and financial innovation of digital currency, and facilitate the continuous evolution of digital finance.

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