Singapore Regulator to Explore DeFi Protocols

The Monetary Authority of Singapore will explore the possibilities of DeFi protocols and tokenization, according to Bloomberg.

INThe Guardian project will also involve JPMorgan, Marketnote and DBS. Financial institutions will work on user cases in four main areas:

• open and interoperable networks;
• anchors of trust;
• asset tokenization;
• Institutional level DeFi protocols.

The first pilot project involves the creationpermissioned liquidity pool. It will consist of tokenized shares and deposits used to provide secured loans through smart contracts.

“These early studies of DeFi solutions will ensure the competitiveness of Singapore as an advanced financial center,” said Han Kwee Huan, Head of Strategic Planning at DBS.

Alameda Research has previously raised $25 million through the permissioned platform Maple Finance.