Japan and Singapore Unite to Revolutionize Cross-Border Payments with Blockchain!

By Lola Coin Jun 28, 202365Views

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The Monetary Authority of Singapore (MAS) has teamed up with 11 financial institutions for Project Guardian, which aims to test asset tokenization across different financial classes. The trials will focus on asset and wealth management, foreign exchange, and fixed income. The project will explore various aspects of digital asset trade, including pricing and execution. Additionally, it will examine asset-backed security tokens and pilot repurchasing agreements with digital bonds. Notably, Japan’s Financial Services Agency has become the first overseas regulator to participate in the project. In addition to Project Guardian, MAS has also released a whitepaper that discusses the concept of purpose-bound money. This initiative aims to enhance digital asset ecosystems while effectively managing associated risks.

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