Japan and Singapore Collaborate for Blockchain Cross-Border Payments!

Coinpedia
Coinpedia

28 Jun 2023 5:59 AM

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.

Go to publisher site

You May Ask

What is Project Guardian?Which financial classes will be covered in the trials?What aspects of digital assets will be explored in the collaboration?Who is the first overseas regulator to join the project?What is the purpose of MAS's whitepaper on purpose-bound money?

Suggested Reads