Odaily News: The Monetary Authority of Singapore (MAS) has released a report outlining an open and interoperable network framework for digital assets. This network was developed in collaboration with experts from the Bank for International Settlements (BIS) and the Committee on Payments and Market Infrastructures (CPMI). Additionally, MAS has announced the expansion of Project Guardian to explore the potential of asset tokenization in additional financial asset classes. To support this initiative, MAS has formed the Project Guardian Industry Group consisting of 11 financial institutions, which will lead pilot projects in asset and wealth management, fixed income, and forex industries. According to previous reports, MAS published a whitepaper proposing a common framework to regulate the use of digital currencies, including central bank digital currencies, tokenized bank deposits, and stablecoins on distributed ledgers. The whitepaper, which was developed in collaboration with the International Monetary Fund, the Bank of Italy, the Bank of Korea, financial institutions, and fintech companies, outlines the technical specifications for the lifecycle of purpose-built tokens (PBM) from issuance to redemption, as well as protocols for interfacing with digital currencies.