Singapore introduces five new pilots to test asset tokenization

“Out of the 17 financial organizations members of Project Guardian, Citi, T. Rowe Price Associates, Inc. and Fidelity International are evaluating bilateral digital property trade mechanisms, exploring real-time post-trade reporting and analytics of digital asset trades. Franklin Templeton is checking the issuance of a tokenized money market fund through a Variable Capital Company (VCC) structure, while J.P. Morgan and Apollo have actually worked together to take on time-consuming manual procedures for possession maintenance utilizing digital assets.Related: Singapore plans joint crypto pilots with Japan, Switzerland and UKIn addition to the 5 pilots, MAS launched Global Layer One (GL1) to check out the style of an open digital facilities that will host tokenized monetary possessions and applications. The main bank has likewise teamed up with the monetary market to develop an Interlinked Network Model (INM), which will serve as a common framework for exchanging digital assets throughout independent networks amongst financial institutions.Along with the above info, the MAS also revealed the inclusion of the International Monetary Fund (IMF) as one of Project Guardians policymakers.Magazine: I invested a week working in VR.