New Delhi: The Monetary Authority of Singapore (MAS) and the Financial Services Authority (FSA), Japan’s financial regulator, have announced a cooperative venture for the shared regulation and pilot testing of cryptocurrency projects for its “Project Guardian” initiative. Only the observation of FSA’s current capacity is anticipated from the investment, it is said. “The project aims to test the feasibility of applications of digital technologies such as asset tokenization through pilot experimentations while managing financial stability and integrity risks. Current industry pilots include fixed income, foreign exchange, and asset & wealth management,” it added.
The initiative, according to the sources, was started after “DBS Bank, JP Morgan, and SBI Digital Asset Holdings conducted foreign exchange and government bond transactions against liquidity pools comprising of tokenised Singapore Government Securities Bonds, Japanese Government Bonds, Japanese Yen (JPY) and Singapore Dollar (SGD),” noted.
