This collaborative effort is part of the broader Project Guardian, which seeks to integrate digital assets into mainstream finance while addressing regulatory compliance, cybersecurity, and equitable access. A key focus of the collaboration is the development of a digital infrastructure named Global Layer One (GL1). GL1 aims to host tokenized assets and applications that could expedite cross-border transactions and enable seamless trading across global liquidity pools. The project involves international regulatory bodies including Japan's Financial Services Agency (FSA), the UK's Financial Conduct Authority (FCA), and Switzerland's Financial Market Supervisory Authority (FINMA), reflecting its global scope. The testing of these tokenization applications is not only a milestone for MAS and its partners but also marks a significant development in the broader context of financial technology.

Source: The Guardian November 15, 2023 18:39 UTC