MAS’ Project Guardian Welcomes AM Bodies
Two asset management bodies have joined the Monetary Authority of Singapore’s tokenization initiative.
The Investment Management Association of Singapore (IMAS) and the UK’s Investment Association (IA) will participate in Project Guardian, according to a statement.
Project Guardian is an international initiative led by the Monetary Authority of Singapore (MAS) to enhance financial market liquidity and efficiency through asset tokenization. It aims to establish industry frameworks and standards on asset tokenization, foster its use across different asset classes, and develop a sustainable digital asset ecosystem.
First Domestic Trade Associations
According to the announcement, IMAS and IA are both the first domestic trade associations and the first asset management-specific bodies to join Project Guardian. Other participants include regulators such as the UK’s Financial Conduct Authority (FCA).
«Tokenization offers real potential to enhance cross-border access, efficiency while reducing costs, making investments accessible. A trusted and inclusive digital economy must be built on connectivity and cooperation,» commented IMAS CEO Carmen Wee.
«We have long advocated for fund modernization and innovation through our Investment Fund 3.0 agenda, a vision for the tokenization of a UK funds industry whose full value chain is operated on Distributed Ledger Technology,» added IA CEO Chris Cummings.
