The Monetary Authority of Singapore (MAS) has announced its plans to collaborate with the Financial Services Agency of Japan (FSA), the Swiss Financial Market Supervisory Authority (FINMA), and the United Kingdom’s Financial Conduct Authority (FCA) to promote joint digital asset pilots. This initiative is an extension of Singapore’s ongoing asset tokenization project, known as Project Guardian, which was launched in 2022. Under Project Guardian, Singapore’s central bank worked with 15 financial institutions to conduct pilots on asset tokenization, demonstrating the potential for transaction efficiency. The MAS has established a Project Guardian policymaker group, consisting of the FSA, FCA, and FINMA, to facilitate policy and accounting discussions, identify risks and legal gaps related to digital assets, and explore the development of common standards for digital asset networks. The partnership aims to deepen the understanding of digital asset innovation and promote the growth of the digital asset ecosystem through cross-border collaboration. Singapore has been actively collaborating with global financial authorities in the field of digital currency, including completing a joint test of cross-border trading and settlement of wholesale central bank digital currencies with the Bank for International Settlements, and the central banks of France and Switzerland.

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Information	Details
Geography	Asia
Countries	🇯🇵 🇨🇭 🇬🇧
Sentiment	positive
Relevance Score	1
People	Leong Sing Chiong
Companies	United Kingdom’s Financial Conduct Authority, Swiss Financial Market Supervisory Authority, Bank for International Settlements, Financial Services Agency of Japan
Currencies	None
Securities	None