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The Monetary Authority of Singapore (MAS) has unveiled a comprehensive plan to advance the commercialisation of asset tokenisation in financial services. The initiative, part of Project Guardian, aims to deepen liquidity, develop market infrastructures, and establish industry standards for tokenised assets.

MAS will form commercial networks to enhance liquidity and create a supportive infrastructure for trading tokenised assets. The project includes over 40 financial institutions, industry associations, and international policymakers across seven jurisdictions.

Two key frameworks, the Guardian Fixed Income Framework and the Guardian Funds Framework, were published to guide the implementation of tokenised assets in debt capital markets and funds. These frameworks aim to strengthen capabilities and catalyse the adoption of tokenised solutions.

Mr. Leong Sing Chiong, Deputy Managing Director (Markets and Development) of MAS, said, “MAS has seen strong interest in asset tokenisation in recent years, notably in fixed income, FX, and asset management. 

“We are encouraged by the keen participation from financial institutions and fellow policymakers to co-create industry standards and risk management frameworks to facilitate commercial deployment of tokenised capital markets products and scale tokenised markets on an industry wide basis.”

MAS's efforts reflect a commitment to positioning Singapore as a global hub for digital asset innovation and ensuring secure, efficient transactions in tokenised markets.