Singapore’s asset management group and a UK trade association have joined Project Guardian, an international initiative led by the Monetary Authority of Singapore to explore the potential of blockchain and asset tokenisation.
The Investment Management Association of Singapore (IMAS) and the UK’s Investment Association (IA) announced their participation in a joint statement on August 5.
Project Guardian is an international collaboration between policymakers and the finance industry to enhance liquidity and efficiency of financial markets through asset tokenisation.
IMAS and IA say they are the first asset management group and the first domestic trade association in the world to join the initiative.
Tokensation offers “real potential to enhance cross-border access and efficiency while reducing costs, making investments accessible”, according to Carmen Wee, chief executive officer of IMAS.
“A trusted and inclusive digital economy must be built on connectivity and cooperation. IMAS is committed to working with our partners to build a resilient and interoperable ecosystem,” she says.
Chris Cummings, chief executive officer of IA, says tokenisation and digital markets have “significant growth potential” for the UK asset management industry.
“Blockchain and tokenised assets are not constrained by borders, and the IA is delighted to have been invited to join Project Guardian to drive international coordination,” he says.