Japan and Singapore Collaborate for Blockchain Cross-Border Payments!
The Monetary Authority of Singapore (MAS) and 11 financial institutions are partnering for Project Guardian, testing asset tokenization across various...
- The Monetary Authority of Singapore (MAS) and 11 financial institutions are collaborating on Project Guardian to test asset tokenization across different financial classes.
- Trials will focus on asset and wealth management, foreign exchange, and fixed income.
- The partnership aims to explore various aspects of digital asset trade pricing, execution, asset-backed security tokens, and pilot repurchasing agreements with digital bonds.
- Japan's Financial Services Agency is the first overseas regulator to join the project.
- MAS has also released a whitepaper on purpose-bound money, which aims to enhance digital asset ecosystems while managing risks.
The article highlights a collaborative effort between Singapore and Japan in exploring blockchain technology for cross-border payments. The tone of the article seems positive, emphasizing the potential benefits of asset tokenization and the involvement of multiple financial institutions.