THELOGICALINDIAN - The Monetary Authority of Singapore MAS has partnered with above banks and banking casework companies to analyze the uses of asset tokenization and decentralized accounts defi DBS Bank and JPMorgan will pilot the aboriginal project
Project Guardian Launched
The Monetary Authority of Singapore (MAS), the country’s axial bank, appear Tuesday that it has partnered with the banking casework industry to barrage Project Guardian. The axial coffer declared Project Guardian as “a collaborative action with the banking industry that seeks to analyze the bread-and-butter abeyant and value-adding use cases of asset tokenization” and decentralized accounts (defi).
Heng Swee Keat, Singapore’s agent prime abbot and analogous abbot for bread-and-butter policies, appear the admission of Project Guardian Tuesday at the Asia Tech x Singapore Summit.
“The aboriginal industry pilot beneath Project Guardian will analyze abeyant defi applications in broad allotment markets,” the MAS detailed, adding:
“The pilot aims to backpack out anchored borrowing and lending on a accessible blockchain-based arrangement through beheading of acute contracts,” the MAS continued.
Sopnendu Mohanty, arch fintech administrator at the axial bank, explained that the MAS is “closely ecology innovations and advance in the agenda asset ecosystem and alive through the abeyant opportunities and risks that appear with new technologies — to consumers, investors, and the banking arrangement at large.”
He noted: “The learnings from Project Guardian will serve to acquaint action markets on the authoritative guardrails that are bare to accouter the allowances of defi while mitigating its risks.”
Han Kwee Juan, arch of accumulation planning and action at DBS, Southeast Asia’s better bank, commented:
What do you anticipate about this initiative? Let us apperceive in the comments area below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
