Singapore’s Central Bank Intends to Expand its Asset Tokenization Initiatives
Under the leadership of MAS, the members of Project Guardian have launched five new pilot projects to test different use cases for asset tokenization.
These projects focus on areas such as listing, distribution, trading, settlements, and asset servicing.
Their ultimate goal is to drive the institutional adoption of digital assets, which will unlock liquidity, investment opportunities, and improve the efficiency of financial markets.
Citi, T. Rowe Price Associates, Inc., and Fidelity International are currently testing mechanisms that will allow for more efficient pricing and execution of bilateral trades. They are also exploring real-time post-trade reporting and analytics.
Meanwhile, BNY Mellon and OCBC are working on a cross-border currency payment solution that will ensure secure and seamless payments across diverse networks. Ant Group is testing a treasury management technology that will improve funding liquidity management on a global scale.
This technology will enable real-time multi-currency clearing and settlement through their global treasury center in Singapore, which supports over 40 currencies.
Additionally, Franklin Templeton is exploring the possibility of issuing a tokenized money market fund through a variable capital company (VCC) structure.
This fund will utilize digital asset networks to track fund shares and improve efficiency.
