Global regulators foster digital innovation with Project Guardian
Summary
The FCA has announced that it is partnering with regulators around the world as part of the Monetary Authority of Singapore’s Project Guardian, a collaborative initiative with the financial industry that explores use cases for fund and asset tokenisation and decentralised finance.
The project sees the FCA joining forces with the Monetary Authority of Singapore (MAS), Singapore’s central bank, the Financial Services Agency of Japan (FSA), and the Swiss Financial Market Supervisory Authority (FINMA).
The stated aims of the project are to share knowledge and examine the benefits, the regulatory challenges, and the commercial use cases of asset and fund tokenisation.
FCA executive director of markets and international Sarah Pritchard said ‘We are pleased to join Project Guardian. The UK’s asset management sector, the second largest in the world, sees significant potential in the use of distributed ledger technology to drive innovation, efficiencies, and enhanced value for customers. We look forward to working with our global partners to examine the market benefits, regulatory challenges, and industry use cases of asset and fund tokenisation.’