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Japan’s Financial Services Authority Joins “Project Guardian” Initiative By Monetary Authority Of Singapore

Milestone Date: June 26, 2023

Digital Asset Custody

The Financial Services Authority (FSA) of Japan has revealed its involvement in the "Project Guardian" initiative, led by the Monetary Authority of Singapore (MAS).

Launched in May 2022, this collaboration will investigate the potential of implementing digital technologies across different asset classes while upholding financial stability and integrity as top priorities.

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As part of the agreement, the FSA will actively participate in Project Guardian as an observer, and it will provide its expertise and insights to support the project's goals. The initiative primarily concentrates on conducting pilot experiments, including asset tokenization, in areas like asset and wealth management, fixed income, and foreign exchange.

Mr. Mamoru Yanase, Deputy Director-General of the Strategy Development and Management Bureau at the FSA, acknowledged the potential of blockchain technology, including Web3, as a catalyst for innovation.

The involvement of the FSA in Project Guardian marks its dedication to international collaboration and the exploration of digital assets' potential. With governments and financial institutions worldwide acknowledging the transformative impact of blockchain and digital technologies, initiatives like Project Guardian could play a pivotal role in establishing strong frameworks and promoting innovation in digital assets and distributed ledger technology (DLT).

By Elizabeth Morrison

Published:June 27, 2023



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