The pilot, launched today, Monday, is a part of the Project Guardian initiative run by the Monetary Authority of Singapore (MAS). The Project Guardian initiative aims to facilitate faster settlement, greater operational efficiency, and more effective cross-border distribution for capital market instruments on digital asset networks. Project Guardian was announced by MAS back in May 2022, with the aim of establishing "best practices and technical standards" in the financial ecosystem. Currently, a pilot is being carried out within Project Guardian on a repurchasing agreement (repo) with natively issued digital bonds. In related news, UBS Group AG (SIX: ) also announced the launch of a pilot project to tokenize money market funds.

Source: The Guardian October 02, 2023 18:28 UTC