According to Foresight News, SBI Digital Markets, a subsidiary of Japanese financial giant SBI Group, and UBS Asset Management have successfully completed a pilot for the issuance and distribution of a tokenized Variable Capital Company fund. The pilot is part of the Singapore Monetary Authority's Project Guardian, which aims to test the feasibility of asset tokenization and DeFi applications.
In the next phase, SBI Digital Markets aims to collaborate with a broader range of ecosystem participants under Project Guardian to explore possible commercialization models for tokenized funds.
