According to an official announcement, the Monetary Authority of Singapore (MAS) announced that it is cooperating with the financial industry to expand the asset tokenization program "Project Guardian" and develop basic capabilities to expand the scale of the tokenization market. These initiatives will promote institutional adoption of digital assets with the aim of unlocking liquidity, providing investment opportunities, and making financial markets more efficient.
An industry group composed of 17 financial institutions in Project Guardian has launched five industry pilot projects to test promising asset tokenization use cases, which are expected to provide integration across the entire capital markets value chain, including listing, distribution, trading, settlement and asset services.