Search Results for: project guardian

The Monetary Authority of Singapore, Bank for International Settlements, and major financial institutions collaborate on Project Guardian, which explores designing open and interoperable networks for tokenized digital assets across asset classes like wealth management, fixed income, and foreign exchange. This project raises questions on accessibility, scalability, and regulatory adaptation.

Switzerland’s UBS bank is making strides in the blockchain industry, launching its first ever pilot tokenizing a fund on the Ethereum blockchain. This initiative, a component of Project Guardian, aims to tokenize real-world assets and widen market accessibility for investors. UBS’s revolutionary tokenized service promises to shape the digital asset space and potential future adoption of blockchain technology.

“UBS Asset Management has initiated a ‘smart contract’ pilot on the Ethereum blockchain, focusing on tokenisation services, including the first live pilot of a tokenized Variable Capital Company fund. Meanwhile, FTX founder’s alleged dismissal of $8 billion in missing funds as a ’rounding error’ sparks concern about fund oversight.”

“UBS bank launches a live pilot of a tokenized money market fund on Ethereum, aiming to democratize market liquidity. The project brings together traditional financial institutions and fintech providers. However, tokenization faces challenges such as asset valuation transparency and blockchain complexity.”

“Zodia Custody, a subsidiary of Standard Chartered, now offers digital asset custody services in Singapore, anticipating growing investment as regulations evolve. This move, along with its current registrations in U.K., Ireland, Luxembourg, and a pending application in Japan, signifies its global ambitions in the cryptocurrency sphere. Balancing regulatory respect, innovation, and stakeholder interests is crucial.”

Mirae Asset Securities collaborates with Polygon Labs to facilitate tokenization and Web3 integration with traditional finance. This alliance aims to create an infrastructure for issuing and transacting tokenized securities – translating tangible assets into blockchain-backed cryptographic tokens. The partnership anticipates reshaping capital markets by eliminating intermediaries, promising a more efficient, transparent, and inclusive global financial system.

JPMorgan is reportedly developing a blockchain-based system for cross-border transactions, alongside a new deposit token aimed at speeding up settlements for corporate clients. These efforts, pending regulatory approval, could encourage other banks to consider blockchain solutions and deposit tokens, amidst challenges from other digital tokens and stablecoin issuers. The future of crypto isn’t just about innovation, but also about maintaining a balance between progress and security.

“Singapore’s leading bank, DBS, has started accepting the digital yuan (e-CNY), bridging the gap between digitized and conventional money. This step validates digital currencies and encourages other global banks to follow suit. However, e-CNY’s current adoption remains nascent.”

Line Next announces five Web3 games to launch on Game Dosi, including Sweet Monster Guardians, Vestria the Last Order (VLO), KEROZ, Drawship Kingdom Reverse, and Project GD. Offering various gameplay experiences, Game Dosi aims to provide NFT rewards and a user-focused Web3 gaming platform, with anticipated membership sales and additional titles in the future.