Today, the Monetary Authority of Singapore (MAS) shared the results of its first Project Guardian pilot projects exploring DeFi and tokenization. And it announced two more pilots, for trade finance and wealth management.

Standard Chartered is leading a project to explore the tokenization of commercial financial assets.

“Digital assets are here to stay, and we see their potential to play a bigger role in supporting the real economy,” said Kai Fehr, global head of trading and working capital at Standard Chartered.

“By transforming trading assets into transferable instruments, we aim to improve accessibility to an asset class, which has largely been the domain of banks, with the participation of a broader range of investors. Not only can we potentially bridge the $1.7 trillion global trade finance gap, but also give investors the option to balance their portfolio with a digital token that has traceable intrinsic value.”

For the second wealth management pilot, HSBC and UOB are working with Marketnode, the blockchain tokenization platform. The aim is to issue digital native wealth management products to improve efficiency and make them accessible to a wider audience.

MAS has invited other industry participants to participate in the FinTech Regulatory Sandbox.

Meanwhile, results from early DeFi pilots from Onyx by JP Morgan, DBS Bank, and SBI Digital Asset Holdings were shared today.

DeFi is one of Project Guardian’s four focus areas. The two new pilot projects today seem to focus on tokenization. The other areas are trust anchors to allow institutions to participate in public blockchains and explore open interoperable networks.