The Monetary Authority of Singapore (MAS) has announced a plan to promote the commercialization of financial services asset tokenization, which includes enhancing the liquidity of tokenized assets, building a market infrastructure ecosystem, publishing an industry implementation framework, and launching a shared settlement facility. MAS encourages financial institutions and policymakers to collaboratively develop industry standards to facilitate the commercialization of tokenized capital market products and the promotion of industry-wide adoption.

PANews, November 4 news: The Monetary Authority of Singapore (MAS) announced a series of plans today to promote the commercialization of financial services asset tokenization, covering aspects such as market liquidity, infrastructure, industry frameworks, and settlement convenience.
1. Deepening Liquidity for Tokenized Assets: Through the Project Guardian initiative, MAS has gathered over 40 financial institutions for market trials of tokenized assets, covering six currencies and various financial products. The Guardian Wholesale Network, consisting of Citibank, HSBC, Schroders, Standard Chartered Bank, and UOB, will advance the commercialization of tokenized assets.
2. Market Infrastructure Ecosystem: MAS launched the Global Layer One (GL1) project in 2023 to support seamless cross-border transactions. Banks such as BNY, Citibank, and JPMorgan are leading the establishment of infrastructure standards to ensure compliance and interoperability for cross-border circulation of tokenized assets.
3. Industry Implementation Framework: Two industry frameworks have been released, including the Guardian Fixed Income Framework (GFIF) and the Guardian Fund Framework (GFF), providing standardized implementation guidelines for debt capital markets and tokenized funds.
4. Joint Settlement Facilities: MAS has launched a wholesale CBDC testing network denominated in Singapore dollars (S$), supporting financial institutions involved in Project Guardian and Orchid to use S$ CBDC for payments and securities settlement.
MAS Vice President Liang Xingqiang stated that MAS encourages financial institutions and policymakers to collaboratively establish industry standards to promote the commercialization of tokenized capital market products and expand their industry reach.

The Monetary Authority of Singapore (MAS) has announced a plan to support the commercialization of asset tokenization.