ANZ has become the latest bank to participate in the Monetary Authority of Singapore’s multi-year Project Guardian initiative, which aims to explore applications of asset tokenisation.
In collaboration with Chainlink Labs and ADDX, the Australian bank will examine the interoperability of private blockchains for exchanging tokenised real-world assets, such as commercial paper.
Nigel Dobson, ANZ’s banking services lead, stated, “Tokenised asset markets are highly fragmented, with tokenised assets and related services developed across different blockchains that are not natively interoperable. This can limit the adoption of tokenised assets and complicate the integration process for financial institutions.”
He added, “We are pleased to join Project Guardian and look forward to demonstrating how our emerging Digital Assets capabilities, such as A$DC, can support our customers in moving goods and capital across the region.”
ANZ joins other financial institutions, including Deutsche Bank, Citi, Fidelity International, OCBC, and JPMorgan, which are all engaged in pilot projects under Project Guardian to investigate asset tokenisation in fixed income, foreign exchange, and asset management products.