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Germany’s Deutsche Bundesbank has joined Project Guardian, a collaborative initiative by the Monetary Authority of Singapore, to advance asset tokenization.

Deutsche Bundesbank, the central bank of Germany, has joined Singapore‘s Project Guardian, an initiative between policymakers and the financial industry to enhance of financial markets through asset tokenization.

In a Nov. 8 press release, the German central bank said it plans to deepen cross-border collaboration as well as advance discussion on “standardization and interoperability of digital assets.”

Under the collaboration agreement, Deutsche Bundesbank will test an interoperable blockchain platform for tokenized and digital funds, though details are yet to be disclosed. Monetary Authority of Singapore deputy managing director Leong Sing Chiong expressed the belief that the Bundesbank’s expertise “will be invaluable as we work together to enhance liquidity and efficiency of financial markets through asset tokenization.”

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