Schemes and Initiatives
Published Date: 19 October 2022

Project Guardian

Project Guardian is a collaborative initiative with the financial industry that seeks to test the feasibility of applications in asset tokenisation and DeFi while managing risks to financial stability and integrity.

 


Objectives

  • Industry Pilots with traditional financial institutions and FinTechs to understand opportunities and risk areas.
  • Assess longer-term transformational impact and aim for safe development of ecosystem using industry experiments and research as a reference.
  • Establish policy guidelines and framework. Define acceptable governance model or accountability; Technical standards for regulated DeFi.

  

Focus Areas

  1. Open, interoperable networks

    Explore the use of public blockchains to build open, interoperable networks that enable digital assets to be traded across platforms and liquidity pools

  2. Trust anchors

    Establish a trusted environment for the execution of DeFi protocols through a common trust layer of independent trust anchors

  3. Asset tokenisation

    Examine the representation of securities in the form of digital bearer assets and the use of tokenised deposits issued by deposit-taking institutions on public blockchains

  4. Institutional grade DeFi protocols

    Study the introduction of regulatory safeguards and controls into DeFi protocols to mitigate against market manipulation and operational risk

 

Collaboration Areas

    Onboarding Icon
    Industry Pilot Industry

    Pilot with traditional financial institutions and FinTechs in Singapore and other jurisdiction to understand opportunities and risk areas.


    Policy Development

    Develop rulebook, governance model, and reviewing legal and regulatory frameworks for tokenized assets.


    Technology Standards

    Develop technical standards, i.e. Trust Anchors, Open networks, institutional grade Defi.

 

For More Information

Please email FinTech_Sandbox@mas.gov.sg .