Japan’s SBI Digital Markets has enhanced its involvement in the Monetary Authority of Singapore’s (MAS) Project Guardian, introducing new pilot programs focused on tokenized securities. Collaborating with major financial institutions, SBI is developing a cross-border framework designed to promote the use of tokenized assets worldwide, thus increasing liquidity and reducing transaction costs. It intends to launch its first structured note backed by luxury wine assets, with further products linked to intellectual property and commodities. Additionally, the Asset and Wealth Management pilot with UBS Asset Management is assessing a tokenized money market fund, utilizing blockchain technology to improve fund processes. These initiatives align with MAS's goal of advancing institutional digital asset adoption, blending public and private blockchain technologies. Notable industry players, such as Standard Chartered and HSBC, are also contributing to this effort, exploring digital bonds and tokenized sustainable bonds respectively, ensuring compliance with regulations. The developments signal a pivotal shift in the financial landscape, potentially transforming the mutual fund industry through blockchain innovations.

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