Investment - Articles - FCA welcomes Project Guardians first report on tokenisation


Project Guardian is an international collaboration of industry and regulators, led by the Monetary Authority of Singapore, that explores the use of fund and asset tokenisation.

 We welcome the first industry-led Project Guardian report on tokenisation in the asset management sector, delivered through Project Guardian’s asset and wealth management workstream.

 Read the report: Guardian Funds FrameworkLink is external

 In the report, firms set out an ambitious, phased vision for the use of distributed ledger technology (DLT) in asset management.

 The report also discusses potential industry and regulatory standards needed to:
 scale tokenisation use-cases
 enable firms and investors to benefit from the technology

 We will continue working with Project Guardian members and the sector to support the development and adoption of asset tokenisation.

 In 2025, we are going to collaborate with the Monetary Authority Singapore (MAS) to explore the regulatory considerations for tokenisation within the asset and wealth management sector.

 Our review will consider:
 regulatory and supervisory principles that could apply to tokenisation use-cases to support consumers and the integrity of our markets
 any potential regulatory barriers to continuing maturity of tokenisation concepts

 Our work in Project Guardian
 We are a member of Project Guardian’s policymaker group and are taking part in the asset and wealth management workstream.

 Throughout 2024, the MAS, FCA and broader Guardian policymaker group have worked with Singapore, UK and international firms within the Guardian membership to develop the use-cases explored in this report, including at the Point Zero Forum in Zurich.

 The FCA and the Treasury are also observers on the industry-led Technology Working Group of the government’s Asset Management Taskforce that is considering the implementation of fund tokenisation in the UK.

  Read more about our work on tokenisation 

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