The Monetary Authority of Singapore (MAS) has launched a multi-pronged effort to advance the commercialization of asset tokenization. It has created new frameworks by leveraging various projects to achieve its goals.

Successful tokenization tests

At the MAS Layer One Summit, MAS Vice President Leong Sing Chiong stated that Project Guardian has demonstrated the potential for tokenization in forex and funds. However, there are limitations such as scalability and lack of infrastructure.

A master plan for commercialization

Project Guardian, which will be launched in 2022, aims to deepen liquidity. Global Layer One, which will be launched in 2023, will address the infrastructure needs. Euroclear and HSBC will also join the initiative.

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