Coinspeaker
Singapore’s Central Bank Proposes Interoperable Network Design for Tokenizing Assets
The Monetary Authority of Singapore (MAS) is proposing a framework to develop open and interoperable networks for tokenizing assets. On Monday, the central bank published a report containing details of its proposal, called Project Guardian.
The publication states that the MAS is already collaborating with 11 organizations working to develop and test tokenization across multiple asset categories. The test will feature foreign exchange, fixed income, and wealth management asset classes powered by a few financial services companies.
Interestingly, the MAS is not very supportive of most cryptocurrencies because of their highly speculative nature. However, the central bank said it is interested in the benefits obtainable from the digital asset world. According to MAS deputy managing director of markets and development Leong Sing Chiong, “while MAS strongly discourages and seeks to restrict
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