As part of Singapore's exploration of asset tokenization, the Monetary Authority of Singapore is teaming up with U.K. and Japan regulators in a project focusing on advancing legal, policy, and accounting handling of digital assets.
The Monetary Authority of Singapore, along with notable financial firms and the BIS, conclude their exploration of blockchain interoperability in three use cases: OTC forex transactions, trade finance, and OTC-structured notes.
Dubbed Project Guardian, MAS is hoping to leverage DeFi to improve the securities sector as it increasingly leans towards distributed ledger technology (DLT).
The project will develop and pilot use cases focused on four main areas: open, interoperable networks, trust anchors, asset tokenization, and institutional-grade DeFi protocols.
