Gan Kim Yong: “To the suppliers here, I also encourage you to pursue productivity enhancements for your own operations.”

The pilot will be expanded to cover more in-store and online outlets, and a wider range of grocery items later this year.

This strengthens Singapore’s proposition as a jurisdiction where reserve assets can be securely held, actively managed, and connected to wider market liquidity during Asian trading hours.

Taken together, these efforts will help our financial institutions, fintech firms, and workers innovate, scale, and build the capabilities to seize the emerging opportunities.

Asia’s demand for financial services is growing ... At the same time, global fragmentation and uncertainty are raising the premium on safe, trusted and credible venues for intermediation.