The UK’s Investment Association (IA) has officially joined Project Guardian, a cross-border collaboration between regulators and financial institutions led by the Monetary Authority of Singapore (MAS) to advance asset tokenisation across financial markets.
The IA champions UK investment management, supporting British savers, investors and businesses, with its 250 members managing around £9.1 trillion of assets.
The initiative involves a collaboration between policymakers and the financial sector to establish regulatory frameworks and industry standards for asset tokenisation, promote the use of tokenisation across different asset classes, and develop a sustainable digital asset ecosystem.
The Investment Association of Singapore (IMAS) has also joined the initiative.
With the move, both IA and IMAS said they intend to promote international collaboration and innovation in the digital asset sector while ensuring investor protection, commercial viability, and responsible innovation.
Project Guardian includes a number of other regulators such as the Financial Conduct Authority (FCA) in the UK. The IA and IMAS will join as members alongside existing global bodies such as Capital Markets and Technology Association (CMTA), Global Financial Markets Association (GFMA), International Capital Market Association (ICMA)and Society for Worldwide Interbank Financial Telecommunications (Swift).
Chris Cummings, chief executive of the IA, said tokenisation and digital markets represent an area of great interest with significant growth potential for the UK investment management industry.
He added that the company has long advocated for the modernisation and innovation of funds through its Investment Fund 3.0 programme.
“We look forward to working with MAS, IMAS and all other Project Guardian participants to share market experiences and drive forward innovative regulatory developments for the benefits of investors across the globe,” he said.
Carmen Wee, chief executive of Investment Management Association of Singapore, emphasised how tokenisation offers real potential to enhance cross-border access and efficiency while reducing costs.
“A trusted and inclusive digital economy must be built on connectivity and cooperation,” she said.
