[Singapore to Pilot Tokenized Bills and Introduce Stablecoin-Related Legislation] BlockBeats News, November 13: On Thursday, a senior official from the Monetary Authority of Singapore (MAS) stated that the Singapore central bank plans to advance the development of a scalable and secure tokenized financial ecosystem. To this end, a pilot program for issuing tokenized MAS bills will be launched next year, along with the introduction of relevant legislation to regulate stablecoins. Chia Der Jiun, Managing Director of the Monetary Authority of Singapore, noted during the Singapore FinTech Festival: "Tokenization has begun, but have asset-backed tokens reached 'escape velocity'? Not yet." He mentioned that MAS has been refining the details of the stablecoin regulatory framework and will draft related legislative proposals, with a core focus on "robust reserve asset backing and reliable redemption mechanisms." Chia Der Jiun also added that MAS is simultaneously supporting various pilot projects under the "Blue Initiative," a program aimed at exploring the use of tokenized bank liabilities and regulated stablecoins for settlement. (Jin10)