Maybank Asset Management Singapore (MAMS) has announced the integration of its tokenised Singapore Dollar Money Market Fund into the Synthesys Network, a platform developed by the Singapore-based tokenisation infrastructure provider, Synthesys. This move extends the fund’s reach to regulated distribution channels worldwide, offering new opportunities for on-chain liquidity management.
The tokenised share class of the Maybank Money Market Fund, initially launched last October, is the first of its kind denominated in Singapore Dollars. It aims to transform idle balances into productive assets, providing on-chain cash management solutions for payment providers, platforms, and brokers dealing in Singapore Dollars. The fund’s introduction into the Synthesys Network is expected to enhance currency diversification, as the market for non-US Dollar tokenised money market products continues to grow.
Darien Poh, CEO of Synthesys, highlighted the shift towards multicurrency assets, stating, “Tokenised yield initially started as a dollar story. As stablecoins and tokenised deposits move into multicurrency rails, the next stage is to introduce multicurrency assets for wider use-cases on-chain.”
Hisham Hamzah, CEO of Maybank Asset Management Group, emphasised the potential of tokenisation to revolutionise investment product distribution, saying, “The partnership with Synthesys reflects our ongoing commitment to innovation in Singapore’s emerging digital asset ecosystem.”
The Synthesys Network connects over 80 distribution channels globally, including banks, payment service providers, and fintechs, allowing immediate access to institutional-grade tokenised products. This strategic collaboration is set to meet the increasing demand for investment-grade Singapore Dollar cash management solutions in digital markets, with further distribution channels expected to open in the coming months.
