ANZ joins Singapore’s Guardian project to explore asset tokenization.
The Guardian project, launched by the Monetary Authority of Singapore in 2022, aims to increase liquidity and efficiency in financial markets through the tokenization of RWAs. Nigel Dobson, ANZ’s head of banking services, has expressed the bank’s interest in exploring the movement of its Australian dollar-backed stablecoin A$DC between blockchains. According to Zach Rynes, Chainlink’s community liaison, ANZ plans to use Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to facilitate the process.
Dobson highlighted that the current tokenized asset market is highly fragmented, with most RWAs unable to move freely between blockchains without an interoperability protocol like Chainlink’s CCIP. This fragmentation can hinder adoption and complicate integration for financial institutions. ANZ will receive support from Project Guardian, leveraging its Singapore office for on-the-ground support.
S&P Global, Deutsche Bank and JPMorgan’s blockchain platform Onyx have previously participated in Project Guardian pilots. Other participants include DBS Bank, SBI Digital Asset Holdings and WisdomTree. The policymaking group for Project Guardian includes government agencies from the UK, Japan, Singapore, Switzerland and France, along with the International Monetary Fund.