Maybank Asset Management Singapore Launches Tokenised Money Market Fund on Synthesys Network

Maybank Asset Management Singapore has integrated its tokenised money market fund share class into the Synthesys Network, marking a significant step in the distribution of Singapore Dollar-denominated digital assets. For fintech professionals, this move signals the maturation of on-chain cash management, providing regulated intermediaries with institutional-grade tools to manage liquidity and hedge currency risk using AAA-rated sovereign currency.

What was announced

Maybank Asset Management Singapore (MAMS) has made its tokenised share class of the Maybank Money Market Fund accessible through the Synthesys Network. This infrastructure, developed by Singapore-headquartered Synthesys, serves as a connectivity and operational layer that links regulated distribution channels to institutional-grade tokenised products through a single integration. The integration allows the fund to reach over 80 distribution channels globally, including banks, payment service providers, fintechs, and other financial institutions, with already-integrated channels gaining immediate access.

The fund was initially introduced in October as the first Singapore Dollar-denominated tokenised share class of a money market fund. It is designed to service on-chain liquidity using a AAA-rated sovereign currency, effectively turning idle balances into productive assets. This solution is particularly targeted at payment providers, platforms, and brokers transacting in Singapore Dollars who require sophisticated on-chain cash management solutions. Distribution of the fund through the Synthesys Network will run via regulated intermediaries and is open to eligible investors under applicable laws.

The announcement comes amid a surge in the tokenised money market fund sector. Industry estimates suggest that assets under management in this asset class will more than double from approximately US$4 billion in January 2025 to US$9 billion by December 2025. While the market has been dominated by US Dollar products, the next phase of growth is expected to focus on non-US Dollar offerings, which are projected to exceed US$1 billion as treasurers and on-chain platforms pursue greater currency diversification.

"Tokenisation has the potential to reshape how investment products are distributed and accessed across global markets by offering a more seamless client experience. The partnership with Synthesys reflects our ongoing commitment to innovation in Singapore's emerging digital asset ecosystem and supports the growing demand for investment-grade Singapore Dollar cash management solutions in digital markets."

Hisham Hamzah, CEO of Maybank Asset Management Group.

The companies involved

Maybank Asset Management Singapore (MAMS) is a key entity within the broader Maybank Asset Management Group, which operates under the umbrella of Maybank, one of Southeast Asia's largest financial institutions. The firm focuses on providing a range of investment solutions across various asset classes, increasingly pivoting toward digital asset innovation within the Singaporean market. By leveraging its position as an established institutional player, MAMS aims to bridge the gap between traditional finance and the emerging on-chain economy through regulated, investment-grade products.

Synthesys is a Singapore-headquartered tokenisation infrastructure provider that specializes in creating the operational and connectivity layers necessary for digital asset distribution. The company’s Synthesys Network acts as a single integration point for global institutions, allowing them to access a variety of tokenised products through a unified framework. Synthesys has positioned itself as a critical intermediary in the fintech ecosystem, facilitating the movement of multi-currency assets onto digital rails. The firm’s infrastructure is designed to meet the compliance and operational requirements of regulated financial entities, enabling them to offer tokenised yield products to their client bases without the need for multiple bespoke integrations.

What FF News has reported before

FF News has previously tracked the expansion of the Synthesys ecosystem and its role in bringing diverse asset classes to the blockchain. In September 2026, we reported on a collaboration involving the firm in Hamco Launches Tokenized Pan-Asia Private Equity Fund with Chainlink and Synthesys. That initiative highlighted the use of the Synthesys infrastructure alongside Chainlink to launch a natively on-chain private equity fund, demonstrating the provider's capability in handling complex, institutional-grade financial instruments beyond simple money market products. This prior coverage underscores the provider's growing influence in the Asian tokenisation landscape and its focus on institutional-grade connectivity.

What this means

This announcement represents a pivot in the tokenisation narrative, which has been overwhelmingly focused on the US Dollar. By introducing a Singapore Dollar-denominated fund to a global distribution network, Maybank and Synthesys are challenging the dominance of dollar-pegged stablecoins as the primary vehicle for on-chain liquidity. This move puts pressure on traditional treasury management platforms to integrate multi-currency digital options or risk losing relevance to on-chain alternatives. The central question for the industry now is whether non-USD tokenised assets can achieve sufficient liquidity to rival their American counterparts. As institutional demand for diversification grows, the success of this SGD fund will serve as a litmus test for the viability of a truly multi-currency digital asset ecosystem.