ANZ explores RWA tokenisation with Project Guardian

Australia and New Zealand Banking Group (ANZ) has joined Singapore’s Project Guardian, a collaborative initiative aimed at exploring the benefits of real-world asset (RWA) tokenisation in financial markets.

This partnership will see ANZ working with blockchain oracle firm Chainlink Labs and investment company ADDX to test how commercial papers and other RWAs can move across different blockchains.

Launched by the Monetary Authority of Singapore (MAS) in 2022, Project Guardian aims to improve liquidity and efficiency in financial markets through RWA tokenisation.

The initiative brings together policymakers and key industry players to develop new frameworks for asset tokenisation.

ANZ’s focus in this project is on enhancing the functionality of its Australian dollar-backed stablecoin (A$DC), with a particular interest in how the asset can be transferred more freely between blockchains.

The bank will utilise Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to facilitate these transfers, according to Chainlink’s community liaison, Zach Rynes.

ANZ banking services lead Nigel Dobson pointed out that tokenised markets are currently fragmented, making it difficult for assets to move seamlessly between blockchains.

Dobson explained that interoperability solutions like Chainlink’s CCIP could address these challenges, easing the integration of blockchain technology in traditional finance.

The project’s on-the-ground support, through ANZ’s Singapore office, will further enhance its collaboration with Project Guardian.

The initiative has already attracted major financial players, including S&P Global, Deutsche Bank, and JPMorgan’s blockchain platform Onyx.

Other institutions, such as DBS Bank and WisdomTree, have also participated in pilot programs.

With backing from global policymakers, including those from Japan, the UK, and Switzerland, Project Guardian is seen as a crucial step in advancing blockchain’s role in financial markets, and ANZ’s involvement signals its commitment to this growing sector.