Nov 03 2022
VOT Research Desk
Block chain technology is being looked at by banks and governments all around the world as the next big technical development. Singapore used this technology in conjunction with Decentralized Finance (DeFi) to test international institutional trading in digital assets.
The Monetary Authority of Singapore (MAS) reported the conclusion of the first industry pilot of its Project Guardian in a statement on Wednesday.
The initiative was started to investigate possible DeFi uses in institutional markets.
Such current investors within the U.S. have been holding back while Singapore is increasing its institutional activities.
The weekly transactions as of October 28 only showed inflows of $6.1 million from the hands of institutions, according to the CoinShares data.
Every other asset reported outflows, with the exception of Bitcoin’s $13.4 million inflow and XRP’s $500K influx.
These investors will also continue making modest swings as long as the crypto currency market maintains a general gloomy sentiment.
