S&P Global joins Project Guardian Singapore! Focus on asset tokenization to promote financial markets

This site: Project Guardian, initiated by the Monetary Authority of Singapore, aims to establish standards and policy guidelines for asset tokenization and develop a business-oriented digital asset ecosystem. As one of the world's three major credit rating agencies, S&P Global Ratings announced on the 27th that it will participate in the project.

will assist in the development of a tokenized market analysis framework

Andrew O'Neill, head of digital asset analysis at S&P, said in a statement that the company will participate in Project Guardian's fixed income program work to develop digital assets and tokens Analytical frameworks, assessments and benchmarks for financial markets: Our goal is to bring the company’s risk perspective and insights to this forum to provide support for strong risk control as this technology is applied to financial markets.

In the fixed income pilot project, major financial institutions are conducting foreign exchange and bond transactions through tokenized bonds and currency liquidity pools. They are also executing digital bond repurchase agreements and developing debt securities listing frameworks, as well as developing Framework for initial coin offerings listed on the Singapore Exchange.

Other workflows of the pilot project include wealth management and foreign exchange trading on the public chain, with a focus on network interoperability. The project uses a modular network model consisting of access layer, service layer, asset layer, platform layer, etc.

Project Guardian’s modular network model

Participants of Project Guardian

Project Guardian consists of three parts:

1. Industry Group: composed of large banks and asset management companies, including Morgan Stanley Chase, DBS, Marketnode and more. S&P Global is the 24th member.
2. Policy Makers Group: Composed of national government agencies and international organizations, including government agencies of the United Kingdom, Japan, Singapore, Switzerland and France, and the International Monetary Fund (IMF).
3. International Association Group: consists of three members.

Focus on Asset Tokenization

• Deposit Tokens: Stablecoins issued by regulated institutions with stability advantages as a way to integrate central bank digital currencies (CBDC) into the traditional banking system.

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