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

Quick Summary:

The move is part of MAS’s broader vision to promote institutional digital asset adoption under the tokenization initiative "Project Guardian".

Enabled by Chainlink’s Cross-Chain Interoperability Protocol, smart contracts streamline interactions within the fund while curbing operational expenses—an innovation SBIDM describes as a “fundamental shift” in the $63 trillion mutual fund industry.

Those securities will be available in both traditional and digital forms to attract a broad spectrum of investors, employing a blockchain-agnostic infrastructure designed to support global transactions, it said.

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Article Details

Author / Journalist: Sebastian Sinclair

Category: Crypto

Markets: EstoniaJapanSingapore

Topics: Singapore Monetary authority of singapore Japan Business Project guardian

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-04 @ 22:50:57 (23 hours ago)

News Timezone: GMT +8:00

News Source URL: decrypt.co

Language: English

Article Length: 447 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Decrypt

News ID: 23413795

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About Decrypt

Main Topics: Crypto

Official Website: decrypt.co

Update Frequency: 7 posts per day

Year Established: 2018

Headquarters: Estonia

News Last Updated: 9 hours ago

Coverage Areas: Estonia

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Publisher ID: #63

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