Website participates in Project Guardian, delving into possibilities of asset tokenization utilization
Bank Collaborates with MAS on Project Guardian, Focusing on Asset Tokenization
Bank, a leading global financial institution, has announced its involvement in Project Guardian, a multi-year initiative led by the Monetary Authority of Singapore (MAS). The project, which also includes global policymakers and representatives from the financial services industry, aims to test the feasibility of asset tokenization applications in regulated financial markets.
Boon-Hiong Chan, Asia Pacific Head of Securities & Technology Advocacy and Industry Applied Innovation Lead, will be the bank's lead for Project Guardian. The bank is also collaborating with Interop Labs, the initial developer of the Axelar network, and Memento Blockchain, a decentralized finance and hyper-chain zero-knowledge specialist.
The bank's commitment to Project Guardian aligns with its aim to propose protocol standards and identify best practices to contribute to industry progress. The institution is testing an open architecture and interoperable blockchain platform to service tokenized and digital funds.
Kate Fields, the contact person for media inquiries regarding the project, emphasizes the importance of collaborating with leading fintechs and digital natives to engineer technologically advanced asset servicing products. Anand Rengarajan, Head of Securities Services for Asia Pacific and the Middle East and Global Head of Sales, is committed to driving the development and adoption of digital assets in Singapore and the Asia Pacific region.
Project Guardian's progress includes successfully testing innovative solutions such as asset tokenization, cross-border repurchase agreements, and digital bonds settled on public blockchains. The initiative aims to increase liquidity and efficiency in financial markets through digital assets and blockchain technology, supporting Singapore’s position as a regional hub for institutional digital asset management.
Key partners involved in Project Guardian include global financial institutions such as UBS, SBI Securities, and DBS Bank, alongside regulatory bodies like Switzerland’s FINMA. The collaboration has ensured interoperability and regulatory compliance while advancing technology adoption in tokenized asset markets.
The project is making significant strides, with live transaction proofs and cross-border integrations. The goal is to build a resilient, innovative digital asset ecosystem within the asset and wealth management sectors.
If you have any media inquiries about Project Guardian, please contact Kate Fields at kate.fields@our website or +852 2203 5094.
References: 1. Bank's Involvement in MAS's Project Guardian 2. Bank Collaborates with MAS on Digital Asset Project 3. MAS's Project Guardian: A Progress Report 4. Interop Labs Joins Bank's Project Guardian Efforts 5. MAS's Project Guardian: Real-World Applications of Digital Assets in Finance
The bank, involved in MAS's Project Guardian, is focusing on the integration of technology in asset tokenization, a key application within regulated financial markets. With a commitment to propose industry-wide protocols and best practices, the bank aims to employ an open architecture and interoperable blockchain platform for tokenized and digital funds.
The collaboration between the bank, Interop Labs, and Memento Blockchain forms a powerful team dedicated to engineering technologically advanced asset servicing products, aligning with the bank's ambition to drive digital asset adoption in the Asia Pacific region.
