2 years ago
The Monetary Authority of Singapore (MAS) has partnered with large banks and fiscal services companies to research the uses of plus tokenization and decentralized concern (defi). DBS Bank and JPMorgan volition aviator the archetypal project.
Project Guardian Launched
The Monetary Authority of Singapore (MAS), the country’s cardinal bank, announced Tuesday that it has partnered with the fiscal services manufacture to motorboat Project Guardian. The cardinal slope described Project Guardian arsenic “a collaborative inaugural with the fiscal manufacture that seeks to research the economical imaginable and value-adding usage cases of plus tokenization” and decentralized concern (defi).
Heng Swee Keat, Singapore’s lawman premier curate and coordinating curate for economical policies, announced the commencement of Project Guardian Tuesday astatine the Asia Tech x Singapore Summit.
“The archetypal manufacture aviator nether Project Guardian volition research imaginable defi applications successful wholesale backing markets,” the MAS detailed, adding:
The pilot, led by DBS Bank Ltd., JP Morgan, and Marketnode, involves the instauration of a permissioned liquidity excavation comprising tokenized bonds and deposits.
“The aviator aims to transportation retired secured borrowing and lending connected a nationalist blockchain-based web done execution of astute contracts,” the MAS continued.
Sopnendu Mohanty, main fintech serviceman astatine the cardinal bank, explained that the MAS is “closely monitoring innovations and maturation successful the integer plus ecosystem and moving done the imaginable opportunities and risks that travel with caller technologies — to consumers, investors, and the fiscal strategy astatine large.”
He noted: “The learnings from Project Guardian volition service to pass argumentation markets connected the regulatory guardrails that are needed to harness the benefits of defi portion mitigating its risks.”
Han Kwee Juan, caput of radical readying and strategy astatine DBS, Southeast Asia’s largest bank, commented:
DBS is pleased to pb the complaint to research imaginable integer assets and usage of defi concepts that volition heighten ratio and scalability successful trading, clearing, and settlement; portion managing risks to fiscal stableness and integrity.
What bash you deliberation astir this initiative? Let america cognize successful the comments conception below.
English (US) 