Singapore intends to collaborate crypto pilots with Japan, Switzerland and UK

31/10/2023

On October 30th, the Monetary Authority of Singapore (MAS) announced its collaboration with the Financial Services Agency (FSA) of Japan, the Swiss Financial Market Supervisory Authority (FINMA), and the Financial Conduct Authority (FCA) of the United Kingdom to jointly promote digital asset pilots. This initiative builds upon Singapore's ongoing asset tokenization project, known as "Project Guardian," in which the Monetary Authority of Singapore has already partnered with 15 financial institutions to conduct asset tokenization pilots, demonstrating significant potential for improving transaction efficiency.

“As the pilots grow in scale and sophistication, there is a need for closer cross-border collaboration among policymakers and regulators,” the MAS wrote, adding that the regulator has therefore established a Project Guardian policymaker group comprising the FSA, the FCA and FINMA.

Resource: https://cointelegraph.com/news/singapore-joint-crypto-pilots-global