In partnership with Chainlink Labs and ADDX, ANZ will explore interoperability between private blockchains to exchange tokenised real-world assets, such as commercial paper.

ANZ Singapore Country Head, Mark Evans, said: “MAS is a global leader in its unwavering commitment to digitise the financial system through industry collaboration.

“ANZ has been in Singapore for 50 years and over that time, our customers have benefited from the bank having access to a regulatory environment that truly fosters innovation.

“We’re pleased to join Project Guardian and play a role in fast-tracking the development of a stable, secure digital asset ecosystem which will be essential to meeting the future needs of our customers across the region.”

Since 2022, Project Guardian has supported collaboration between policy makers and the financial industry to enhance liquidity and efficiency of financial markets through asset tokenisation.

ANZ Banking Services Lead, Nigel Dobson, said: “Tokenised asset markets are highly fragmented, with tokenised assets and related services developed across different blockchains that are not natively interoperable.

“This can limit the adoption of tokenised assets, while making the integration process for financial institutions complex.

“We are pleased to join Project Guardian and look forward to demonstrating how our emerging Digital Assets capabilities, such as A$DC, can be used to support our customers to move goods and capital across the region,” Mr Dobson said.