October 4, 2024
By Our Correspondent
The bank will investigate blockchain interoperability for the exchange of tokenised real-world assets.
ANZ has become a participant in the Monetary Authority of Singapore’s (MAS) Project Guardian, focusing on the application of tokenised real-world assets within financial markets.
The Australian-based bank will collaborate with Chainlink Labs and ADDX to examine the interoperability of private blockchains for the exchange of tokenised real-world assets, including commercial paper.
Mark Evans, ANZ’s country head in Singapore, and Nigel Dobson, lead of ANZ banking services, expressed their satisfaction in joining Project Guardian.
“ANZ has maintained a presence in Singapore for 50 years, during which our clients have benefited from a regulatory framework that genuinely encourages innovation,” stated Evans.
Since its inception in 2022, Project Guardian has facilitated cooperation between policymakers and the financial sector to improve liquidity and efficiency in financial markets through asset tokenisation.
Dobson highlighted the fragmented nature of tokenised asset markets, which he believes can hinder adoption and complicate the integration process for financial institutions.
“We are excited to be part of Project Guardian and anticipate showcasing how our developing Digital Assets capabilities, such as A$DC, can assist our clients in facilitating the movement of goods and capital throughout the region,” Dobson remarked.