Japan’s SBI Expands Singapore’s Tokenization Project with New Pilots

Japan’s SBI Digital Markets has expanded its involvement in the Monetary Authority of Singapore’s Project Guardian by introducing new pilots to advance the use of tokenized securities globally. Working with other financial institutions, SBI is developing a cross-border framework for tokenized assets, aiming to enhance liquidity and reduce costs. The Fixed Income pilot focuses on creating an international network for tokenized asset-backed securities, while the Asset and Wealth Management pilot evaluates a UBS tokenized money market fund. These initiatives leverage blockchain technology to simplify processes and streamline interactions within the fund. SBI’s efforts align with Singapore’s broader goal of promoting institutional digital asset adoption through Project Guardian, which involves leveraging both public and private blockchains. Other significant players in this project include Standard Chartered, HSBC, and JP Morgan.