The MAS will also restrict DPT service providers from facilitating lending and staking of DPT tokens by their retail customers.
The Monetary Authority of Singapore has announced new requirements for digital payment token (DPT) service providers to safekeep customer assets under a statutory trust before the end of the year in order to mitigate the risk of loss or misuse of customers’ assets.
This will also facilitate the recovery of assets in the event of a DPT service providers’ insolvency, the central bank says.
