Singapore introduces five new pilots to test asset tokenization
The latest initiatives led by the Monetary Authority of Singapore aim to develop foundational capabilities to scale tokenized markets. The Monetary Authority of Singapore (MAS) has introduced five additional industry pilots into the Project Guardian to test various use cases around asset tokenization. Project Guardian is a collaborative initiative led by Singapore’s central bank that seeks to develop new financial infrastructure using decentralized finance (DeFi) elements. The latest initiatives are aimed at developing foundational capabilities to scale tokenized markets. As explained by MAS: “These developments under Project Guardian will catalyze the institutional adoption of digital assets, with the aim of freeing up liquidity, unlocking investment opportunities, and increasing the efficiency of financial markets.” Out of the 17 financial institutions members of Project Guardian, Citi, T. Rowe Price Associates, Inc. and Fidelity International are testing bilateral digital asset ...