ANZ announced yesterday that it has joined the Monetary Authority of Singapore (MAS)'s "Project Guardian", which aims to enhance the efficiency and liquidity of financial markets through tokenization technology.
Why does ANZ join Project Guardian?
According to an official press release, ANZ will collaborate with Chainlink Labs and Singapore’s digital securities exchange ADDX to explore interoperability between private blockchains and further enable tokenized real-world assets (RWA) inter-bank transfer.
Image source: X/@chainlink ANZ Bank and Monetary Authority of Singapore cooperate
Since 2022, the Monetary Authority of Singapore has continued to mediate cooperation between the government and the financial industry through Project Guardian. Mark Evans, regional head of ANZ Bank in Singapore, said that MAS is committed to digitizing the financial system through industrial cooperation and providing global tokens. A leader in chemical technology.
"During the 50 years since ANZ has expanded its business to Singapore, our clients have benefited from Singapore's constantly innovative regulatory environment, which is crucial to the stable development and ecological security of digital assets."
Tokenization is one step away from mass adoption!
Nigel Dobson, head of ANZ Banking, pointed out that interoperability barriers between blockchain networks have always been the main factor that makes it difficult to integrate asset liquidity, and this has also deepened the threshold for financial institutions to adopt tokenization technology. Today, Chainlink CCIP has introduced cross-chain interoperable solutions for tokenization technology, thereby removing the adoption barriers of traditional finance.
How will ANZ apply tokenization technology in the future?
Previously, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) joined forces with Chainlink and major international banks to launch a regional test project of tokenization technology, and announced last month (9/11) the multi-ledger delivery mechanism they jointly developed. Tokenized remittance systems such as (multi-ledger DvP) and payment-to-payment simultaneous collection and payment (multi-ledger PvP); in the future, these two systems will become the basic framework for RWA's international inter-bank settlement. For details, please refer to "Encryption City” previously reported.
