Guardian

Coin

<ul class="wp-block-list news-points"> 
 <li>The MAS plans to introduce new measures to advance tokenization in financial services.</li> 
 <li>The move is part of Singapore’s vision of positioning itself as a leading fintech hub.</li> 
 <li>Project Guardian has convened a large-scale collaboration to check the potential of asset tokenization in capital markets.</li> 
</ul> 
The Monetary Authority of Singapore (MAS) announced plans to introduce new measures to <a href="https://www.mas.gov.sg/news/media-releases/2024/mas-announces-plans-to-support-commercialisation-of-asset-tokenisation" target="_blank" rel="nofollow">advance tokenization</a> in financial services. 
To boost the tokenized assets market, the regulator will implement a four-part strategy. This includes establishing commercial networks, developing market infrastructures, supporting industry-wide frameworks, and providing access to shared settlement facilities. 
Leong Sing Chiong, Deputy Managing Director of Markets and Development at MAS, commented on the growing interest in asset tokenization in recent years. He said: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “We are encouraged by the keen participation from financial institutions and fellow policymakers to co-create industry standards and risk management frameworks to facilitate commercial deployment of tokenized capital markets products, and scale tokenized markets on an industry-wide basis.” 
</blockquote> 
<h2 class="wp-block-heading" id="h-project-guardian-s-role-in-tokenization">Project Guardian’…</h2>
The post <a href="https://coinedition.com/singapore-takes-lead-in-tokenization-of-financial-assets/">Singapore Takes Lead in Tokenization of Financial Assets</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Singapore Takes Lead in Tokenization of Financial Assets

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