S&P Global Ratings, a multinational analytics firm, has joined the tokenization trials of Project Guardian in Singapore, a major asset tokenization exploration project.
Project Guardian is a two-year-old flagship asset tokenization project in Singapore. Recently, analytics firm S&P Global joined the project’s tokenization trials. The company will observe the fixed-income pilot projects and their use cases with tokenization. S&P Global shared these insights in a recent press release.
The Singapore project has already been exploring how asset tokenization can benefit global financial markets. Meanwhile, the analytics firm will work with other project partners and investigate various parameters, including benchmarks, frameworks, and assessments of tokenized markets.
Chuck Mounts, who heads the decentralized finance (DeFi) division at S&P Global, said, “We are delighted to join Project Guardian. This is another step forward in our commitment to leveraging our robust analytical and risk assessment capabilities to support both traditional finance (TradFi) and the growing universe of crypto-native decentralized finance (DeFi) clients.”
The Digital Assets Analytics Lead at the firm, Chuck Mounts, also praised the partnership. He underlined how such emerging technologies and innovations could transform financial markets. Further, he noted how S&P Global would bring their expertise in risk mitigation to the project.
Tokenization is a process that leverages blockchain technology to represent real-world assets as digital tokens. This innovation holds immense potential to reshape how we interact with financial markets. Asset tokenization also has the potential to increase transparency, efficiency, and accessibility of financial markets.
Blockchain technology underpins tokenization, offering an immutable and transparent record of ownership and transaction history. This reduces the risk of fraud and errors, fostering greater trust within the financial system. Project Guardian has been advocating for this use case and was joined by firms like Deutsche Bank last month.
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