The Monetary Authority of Singapore is collaborating with the financial industry to expand its asset tokenization plans.

BlockBeats reported on November 15 that the Monetary Authority of Singapore (MAS) announced that it is collaborating with the financial industry to expand its asset tokenization plan and enhance its foundational capabilities to promote the scale development of the tokenization market. These expansions under Project Guardian will catalyze institutional adoption of digital assets, aiming to release liquidity, open up investment opportunities, and improve the efficiency of the financial market. A group of 17 financial institutions from Project Guardian has launched five industry pilot projects to test promising asset tokenization use cases, which are expected to provide integration for the entire capital market value chain, including listing, distribution, trading, settlement, and asset services. Contributors include Apollo, DBS Bank, HSBC, J.P. Morgan's digital asset platform Onyx, SBI Digital Asset Holdings, Schroders, Standard Chartered Bank, Swift, UBS, Dah Sing Bank, Ava Labs, Chainlink, and LayerZero.