SBI Digital Markets, a subsidiary of the Japanese financial services giant SBI, has launched tokenized securities as part of Singapore’s tokenization initiative, Project Guardian. It has also partnered with Swiss bank UBS to venture into tokenized money market funds.
SBI Digital Markets (SBI DM), a subsidiary of Japan’s SBI based in Singapore, unveiled the new pilot this week as it seeks to expand its role in Project Guardian, a blockchain and digital assets initiative launched by the Monetary Authority of Singapore (MAS) in 2022. The initiative boasts some of the world’s largest financial industry players, from JPMorgan (NASDAQ: JPM) and DBS Bank (NASDAQ: DBSDY) to Temasek and Moody’s (NASDAQ: MCO).
In one of its key initiatives, SBI DM has partnered with the largest Swiss bank, UBS, to launch a tokenized money market fund. Dubbed the “UBS USD Money Market Investment Fund Token,” the fund was issued on a …