Japan’sSBIDigitalMarketshasstrengtheneditsroleintheMonetaryAuthorityofSingapore’s(MAS)ProjectGuardian,unveilingnewpilotsaimedatadvancingtheuseoftokenizedsecuritiesinglobalmarkets.
Incollaborationwithleadingfinancialinstitutions,theSBIGroupsubsidiaryisdevelopingacross-borderframeworkfortokenizedassets,connectingregulateddigitalassetexchangesacrossmultipleregionstoboostliquidityandlowercosts.
ThroughitsFixedIncomepilot,SBIDMiscreatinganinternationalnetworkfortokenizedasset-backedsecurities,coveringbothinitialissuanceandsecondarytrading,thecompanyannouncedMonday.
SBIDMplanstoreleaseitsfirststructurednote,supportedbyluxurywineassets,inthecomingmonths,followedbyproductstiedtointellectualpropertyandcommodities.
Thosesecuritieswillbeavailableinbothtraditionalanddigitalformstoattractabroadspectrumofinvestors,employingablockchain-agnosticinfrastructuredesignedtosupportglobaltransactions,itsaid.
Meanwhile,theAssetandWealthManagementpilotwithUBSAssetManagementisevaluatingaUBStokenizedmoneymarketfund.
Buildingonlastyear’stechnicalprogresswithinProjectGuardian,thepilotintegratesblockchain-poweredautomationtosimplifyfundsubscriptionandredemptionprocesses.
EnabledbyChainlink’sCross-ChainInteroperabilityProtocol,smartcontractsstreamlineinteractionswithinthefundwhilecurbingoperationalexpenses—aninnovationSBIDMdescribesasa“fundamentalshift”inthe$63trillionmutualfundindustry.
It\'sallpartofMAS’sbroadervisiontopromoteinstitutionaldigitalassetadoptionunderProjectGuardianbyleveragingbothpublicandprivateblockchaintechnology.
Publicblockchainsareopenandpermissionlessnetworkswhereanyonecanjoin,validatetransactions,andviewtheledger.They’redecentralized,oftenrelyingonlarge,distributednetworksforsecurity,asseenwithBitcoinorEthereum.
Privateblockchains,bycontrast,areclosedandpermissionednetworks.Accessisrestrictedtoselectedparticipants,oftencontrolledbyacentralentityorgroup.
SBIDM’seffortsjoinothersignificantplayersinSingapore’sexpansionoftheregion’stokenizationsectorundertheproject,includingStandardChartered,whichisexploringdigitalbondissuancebyleveragingtokensfrompublicblockchainsEthereumandStellar.
HSBC,inpartnershipwithTemasek,isalsotestingtokenizedsustainablebondsusingprivateblockchainsinabidtomaintaincompliancewithfinancialregulations.
JPMorgan,along-standingProjectGuardianpartner,hasalsopreviouslytestedtokenizeddepositsonpublicandprivateblockchains,aimingtobolstersettlementefficiencyincross-bordertransactionsandtokenizedportfolios.
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