Some Major Banks Dig Into DeFi and Digital Asset Applications

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The Monetary Authority of Singapore has teamed up with major banks like DBS and JP Morgan and financial services firms to investigate asset tokenization and decentralized finance.

The Monetary Authority of Singapore,  the country's central bank, revealed that it has launched Project Guardian in collaboration with the financial services industry. 

The project aspires to examine the economic possibilities and value-adding use cases of asset tokenization and decentralized finance. 

The MAS says, “The first industry pilot under project Guardian will explore potential defi applications in wholesale funding markets”.