Standard Chartered Bank will pilot trade finance asset tokenization in Singapore

2022-11-02 20:13:06

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ChainCatcher news, the Monetary Authority of Singapore (MAS) shares the results of the first pilot project of its Project Guardian, which focuses on exploring DeFi and Tokenization. MAS also announced two additional pilot projects, namely Trade Finance and Wealth Management.

Standard Chartered is leading the first pilot project, exploring the Tokenization of trade finance assets. In the Wealth Management pilot project, HSBC and UOB are collaborating with the blockchain Tokenization platform Marketnode, aiming to issue native digital wealth management products to enhance efficiency and expand the number of new users.

DeFi is one of the four key areas of Project Guardian; the two newly announced pilot projects focus on Tokenization; other areas include trust anchors that enable institutions to participate in public chains and explore open interoperable networks. (Source link)

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