The financial regulators from England, Switzerland and Japan are joining Singapore’s Project Guardian, which is already on its second iteration. The initiative explores digital assets and tokenization using public blockchain with financial institutions and the BIS Innovation Hub. The current focus is on fixed income, foreign exchange (FX) and asset management.
The Monetary Authority of Singapore (MAS) previously said the Japan Financial Services Agency (JFSA) was participating, given the first iteration included Japanese government bonds. UK asset manager Schroders is one of the participants, so the addition of the UK’s Financial Conduct Authority (FCA) makes sense.
“The UK’s asset management sector – which is the second largest in the world – sees significant potential in the use of distributed ledger technology to drive innovations, efficiencies, and enhanced value for customers,” said Sarah Pritchard, Executive Director of Markets and International at the FCA. “We look forward to working with our global partners to examine the market benefits, regulatory challenges, and industry use cases of asset and fund tokenisation.”
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