Ghana Bank and Singapore MAS launch DESFT pilot project transactions

ChainCatcher message, the Bank of Ghana (BOG) and the Monetary Authority of Singapore (MAS) have completed the proof of concept for the Digital Economy Semi-Fungible Token (DESFT) project. The project aims to encourage trade between micro, small, and medium enterprises (MSMEs) in both countries. Within the project, real-time transactions have been conducted between the two parties. According to Ample FinTech, headquartered in Singapore, they utilized the Universal Trusted Credential Semi-Fungible Token Protocol developed by the United Nations Development Programme, which the company claims to be the developer of DESFT. The token contains verified licenses, certificates, and transaction records.