Banking giants like Standard Chartered, HSBC, and Citi will conduct multiple tokenization trials in wealth management, fixed income, and foreign exchange. Singapore’s central bank, in collaboration with the Bank for International Settlements and other financial institutions, has proposed a framework for designing open and interoperable networks for tokenized digital assets. The initiative, called Project Guardian, will test asset tokenization across various financial asset classes with the participation of 11 institutions. Standard Chartered, for example, is developing an initial token offering platform in collaboration with payments platform Linklogis. The Monetary Authority of Singapore supports digital asset technologies while discouraging speculation in cryptocurrencies. Recently, the MAS proposed standards for digital money, including central bank digital currencies and stablecoins.
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