The Singapore regulator announced that it plans to explore the use cases of blockchain.
Singapore’s financial regulator, the Monetary Authority of Singapore (MAS), has announced that it plans to explore the uses of decentralized finance (DeFi). The project, called Project Guardian and planned to be on public chains, includes key names such as JPMorgan, Marketnote, and DBS, and plans to examine “the economic potential and value-added uses of asset tokenization.” In his statement on the issue, the regulator defined the concept of tokenization as
“The process of digitally representing assets or items of value through a smart contract on a blockchain. This allows high-value financial and real economy assets to be fragmented and exchanged on a peer-to-peer basis over the Internet.”
The project will test the feasibility of applications in asset tokenization and DeFi, and will also create a liquidity pool.
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