The Monetary Authority of Singapore (MAS) has launched a new industry pilot in wealth management with HSBC, UOB and Marketnode collaborating to enable native digital issuance of wealth management products.
HSBC and United Overseas Bank (UOB) have partnered to test the digital issuance of wealth management products via distributed ledger technology (DLT) infrastructure provided by Markenode, a joint venture between the Singapore Exchange (SGX) and Temasek, according to a statement released by the financial regulator today (2 November). The asset tokenisation trial, which is part of ‘Project Guardian’ launched by the Singaporean government in May, aims to fully digi