Project Guardian
BIS (Bank for International Settlements)
The BIS Innovation Hub's CBDC research including Projects mBridge and Nexus, Basel Committee crypto capital rules, and BIS's role as the central bank of central banks.
MAS (Monetary Authority of Singapore)
MAS as Singapore's integrated financial regulator, its Payment Services Act DPT licensing regime, Project Guardian institutional DeFi pilots, and the June 2025 DTSP framework.
Project Guardian: How MAS and BIS Built the World's Most Important Tokenization Experiment
Project Guardian — the collaboration between MAS Singapore and BIS — tested institutional tokenization of bonds, foreign exchange, and fund units with major global banks. The policy implications of its findings are reshaping how regulators think about tokenized finance.
Singapore: Asia's Most Sophisticated Digital Asset Policy Jurisdiction
Singapore's digital asset policy — Payment Services Act, MAS frameworks, Project Guardian, stablecoin framework, and MAS's deliberate choice to prioritise institutional over retail crypto.
Singapore's FinTech Regulatory Sandbox: How MAS Built a Laboratory for Innovation
MAS's FinTech Regulatory Sandbox has been one of the world's most successful regulatory innovation tools — enabling live testing of financial technology, including digital assets, within a controlled legal environment.