Singapore Takes More Steps to Expand Asset Tokenization

The Monetary Authority of Singapore added to its list of partners including global industry associations and financial institutions to expand asset tokenization, according to a statement.

• The central bank aims to drive common asset tokenization standards in fixed income, foreign exchange and asset & wealth management, it said
• The MAS also completed the first phase of global layer one initiatives
• NOTE: MAS is working with the financial industry to scale tokenized assets under its flagship program, Project Guardian
• NOTE: Tokenization refers to the process of creating blockchain-based representations of real world assets
• Read: Tokenize Financial Assets, But Proceed Carefully: ...