By Andrei Skvarsky.
More than 40 companies and other entities across seven jurisdictions have so far been covered by a pilot project by Singapore’s central bank aimed at having assets in financial services represented on a blockchain through digital tokens, according to a key Singaporean daily.
Project Guardian, launched in May 2022, has involved more than 15 trials in six currencies across multiple financial products aiming to facilitate real-time payments, English-language paper The Straits Times said.
The project is part of a large-scale tokenisation effort by the Monetary Authority (MAS), Singapore’s central bank. Another part is Global Layer One (GL1), an infrastructure, risk management and compliance initiative spearheaded by a group of global banks – BNY, Citi, J.P. Morgan, MUFG Bank and Societe Generale.
Euroclear and HSBC are going to join GL1, the newspaper said.
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