Orchid

Guardian

Standard

<ul class="wp-block-list">
 <li>Singapore is making an effort to completely alter tokenization as well as the financial service sector.</li>
 <li>This project aims to direct rigorous industry trials that will help in investigating the ways of applying asset tokenization over capital markets.</li>
 <li>Till date, more than 15 industry trials have been carried out in six currencies over different financial products.&nbsp;</li>
</ul>
The Monetary Authority of Singapore is planning to include tokenization in the financial service sector. This decision has been taken to improve liquidity for the tokenized assets. In this step, many commercial networks as well as a robust ecosystem of market infrastructure will be built.
<a href="https://news.todayq.com/singapore-sees-96-increase-in-stablecoin-transactions-in-2024/" target="_blank" rel="noopener noreferrer nofollow">Singapore</a> is making an effort to completely alter tokenization as well as the financial service sector by making a plan that will be implemented over tokenized assets. It is also speculated to make a smoother path for a universal settlement mechanism for these assets.&nbsp; What is “Project Guardian?”&nbsp; 
The regulators have planned to launch ‘Project Guardian’ which will help in bridging over 40 financial institutions, industry associations as well as international lawmakers from 7 different regions.&nbsp;
This project aims to direct rigorous industry trials that will help in investigating the ways of applying asset tokenization over capital markets such as Citi, Standard Chartered HSBC, and many more. These financial figures will come together to make a Guardian Wholesale Network industry group.
This industry group is directed toward making joint networks to commercialize and increase asset tokenization trials. If we talk about the official statement by the Monetary Authority of Singapore the new industry members will be added such as Euroclear and HSBC to expand the 2023 Global Layer One (GL1) motive.&nbsp;
GL1 will help in establishing a new market infrastructure working group, which will include global financial market infrastructure providers. It will help in aiming over virtual asset securities control principles.&nbsp; The major frameworks&nbsp;&nbsp; 
Adding more to this, the authority has also stated that to clear the path of broad-based acknowledgment and execution of tokenized assets by financial institutions, two industry substructures were made by Project Guardian industry group members. The substructure comprises of Guardian Fixed Income Framework (GFIF) and Guardian Funds Framework (GFF).&nbsp;
Over and above that, access to common settlement assets such as S$ wholesale CBDC by financial institutions is also planned to make it easy. Along with Project Guardian, Project Orchid will be provided with the initial test network (SGD Testnet).&nbsp;
By using the testnet, the financial institutions will be able to settle transactions with S$ wholesale CBDC. The initial group that will be taking part in financial institutions is comprised of DBS, OCBC, Standard Chartered, and UOB and participating use cases involve payments as well as securities settlement.
TheMonetary Authority of Singapore is investigating the formation of universal settlement facilities to make easy clearing and settlement of tokenized assets providing a systematic method for approaching the transaction. Till date, more than 15 industry trials have been carried out in six currencies over different financial products.

MAS to Integrate Tokenization with the financial service sector

Todayq News

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