SBI Digital Asset Holdings joins MAS tokenization initiative
SBI Digital Asset Holdings (SBI DAH), a digital asset arm of the SBI Group, announces its participation in Project Guardian, a Monetary Authority of Singapore (MAS) initiative to explore the institutional trading of tokenized bonds and deposits to improve efficiency and liquidity in wholesale funding markets.
The first industry pilot aims to carry out secured borrowing and lending on a public blockchain-based network through execution of smart contracts.
SBI DAH’s participation in this project reinforces SBI’s commitment to innovate and being a pioneer in the institutional digital asset space. This new endeavor from the Japan based firm also reaffirms SBI DAH’s investment into Singapore as a digital financial hub for institutional players and comes at the back of the launch of two ventures in this jurisdiction over the last 2 years: (1) SBI Digital Markets, a new digital broker-dealer that has received an in-principle approval CMS license from the MAS and, (2) AsiaNext, a 50/50 joint venture with the SIX group aiming to serve the crypto and digital securities markets with an institutional grade venue.
“Our core mission at SBI DAH is to re-imagine and transform the capital markets and banking value chains through the deployment of digital technology. Our participation in this partnership is another step in the right direction to bring these solutions to the institutional market and we are delighted to join hands with strong private sector partners such as DBS, Marketnode and JP Morgan” said Fernando Vazquez Cao, SBI Digital Asset Holdings’ CEO.