The Monetary Authority of Singapore has announced plans to promote the tokenization of financial services, including the establishment of a commercial network, the development of a market infrastructure ecosystem, the cultivation of an industry framework, and the realization of access to universal settlement facilities for tokenized assets. Citi, HSBC, Schroders, Standard Chartered, and UOB have formed the "Guardian Wholesale Network" industry group, aimed at commercializing asset tokenization experiments and scaling up their usage.

Odaily Planet Daily reported that the Monetary Authority of Singapore (MAS) announced today the advancement of its plans for tokenization in the financial services sector. These plans include: forming a business network to deepen the liquidity of tokenized assets; developing a market infrastructure ecosystem; cultivating an industry framework for the implementation of tokenized assets; and achieving access to common settlement facilities for tokenized assets. Under the "Guardian Program," MAS has convened over 40 financial institutions, industry associations, and international policymakers from seven jurisdictions to conduct industry trials regarding the use of asset tokenization in capital markets. It is reported that Citibank, HSBC, Schroders, Standard Chartered, and United Overseas Bank have formed the "Guardian Wholesale Network" industry group, aimed at establishing a multi-member network to commercialize their respective asset tokenization trials and scale their usage.

The Monetary Authority of Singapore (MAS) has announced the advancement of the tokenization of financial services initiative.