ANZ Becomes First Australian Bank to Join Singapore’s Project Guardian for Tokenization

ANZ has made history as the first Australian bank to join Singapore’s Project Guardian, an initiative aimed at exploring the use of tokenized real-world assets (RWAs) in financial markets. The bank officially joined the project on September 30, 2024.

In collaboration with Chainlink Labs and ADDX, ANZ will work to improve the interoperability between private blockchains, focusing on the exchange of tokenized assets like commercial paper. This effort is expected to boost liquidity and streamline financial transactions across multiple blockchain platforms.

Project Guardian was launched in 2022 by the Monetary Authority of Singapore (MAS) and brings together financial institutions to explore and address the challenges of asset tokenization. The initiative is designed to accelerate the development of a secure and efficient digital asset ecosystem.

Mark Evans, ANZ’s Singapore Country Head, emphasized the importance of Singapore’s regulatory environment in fostering innovation. “We’re pleased to join Project Guardian and play a role in fast-tracking the development of a stable, secure digital asset ecosystem,” Evans said.

ANZ’s participation in the project will focus on improving cross-chain interoperability, which is essential for overcoming the fragmentation that limits the adoption of tokenized assets. The initiative will also demonstrate how these assets can reduce settlement times and operational costs, providing faster and more transparent financial transactions.

Nigel Dobson, ANZ Banking Services Lead, added, “We look forward to demonstrating how our digital assets capabilities, such as A$DC, can support our customers in moving goods and capital across the region.”