The Central Bank of Singapore collaborates with e-commerce giants to launch a treasury Token, exploring new Settlement methods for cross-border trade.

Recently, the trend of internet giants re-entering the Crypto Assets field seems to be emerging. The latest news indicates that a fintech company closely related to an e-commerce giant has partnered with Singapore's largest bank to launch a pilot program called "Treasury Token".

It is reported that this project aims to help the fintech company shorten the settlement time of internal transactions from several days to several seconds, thereby optimizing the internal liquidity and working capital management of the group. The company also stated that they see potential application prospects in areas such as instant tax refund services and cross-border payments for small and medium-sized enterprises.

This Singapore bank has an impressive background, officially named "Development Bank of Singapore", and serves as a reference for many domestic banks. Considering that this fintech company has a wealth of cross-border trade merchant resources, the cooperation between the two parties may promote a large amount of cross-border trade to adopt tokenization for real-time settlement, which could bypass the traditional Swift system.

The project is supported by the Guardian project initiated by the Monetary Authority of Singapore. This project aims to enhance the liquidity and efficiency of financial markets through asset tokenization, and this collaboration is one of the practical application scenarios.

It is worth noting that the policy-making members of the Guardian project include central banks and financial regulatory agencies from several European and Asian countries, such as the Deutsche Bundesbank, the UK's Financial Conduct Authority, Japan's Financial Services Agency, the International Monetary Fund, the Monetary Authority of Singapore, the Swiss Financial Market Supervisory Authority, and the Bank of France. This composition of members seems to imply the construction of a new international financial order.

In addition to the Guardian project, Singapore has also launched a project called "Orchid Program," which mainly explores the possibility of issuing central bank digital currency, namely "Digital Singapore Dollar." The issuance model of the Singapore Dollar is quite unique, relying on the country's vast foreign exchange reserves for support, making it somewhat similar to a stablecoin.

In the Orchid Project, the Singapore central bank is responsible for issuing digital currency, while commercial banks act as exchanges, responsible for the exchange services. The participating institutions in this plan are mainly concentrated in Singapore.

Overall, Singapore seems to be planning a grand financial innovation blueprint: to develop the Singapore Dollar into a crypto stablecoin to facilitate domestic institutional settlements; at the same time, to unite countries in Eurasia to promote new settlement mechanisms in the field of international trade. Multinational trade institutions, like this fintech company, are entrusted with the important task of exploring application scenarios.

This series of actions will undoubtedly have a profound impact on the global financial landscape and is worth ongoing attention.