Singapore Central Bank Partners with Institutions Including JP Morgen to Start Digital Assets Pilot

The Monetary Authority of Singapore (MAS) announced the launch of Project Guardian, a collaborative initiative with the financial industry that seeks to explore the economic potential and value-adding use cases of asset tokenisation. The first industry pilot will be led by JP Morgen, BDS Banks and Marketnode, which involves the creation of a permissioned liquidity pool comprising tokenised bonds and deposits. The pilot aims to carry out secured borrowing and lending on a public blockchain-based network through execution of smart contracts.