The Japan Financial Services Agency announced on its official website that the agency will participate as an observer in the Monetary Authority of Singapore's digital asset public-private partnership program "Project Guardian". The person in charge of the General Policy Bureau of the Japan Financial Services Agency stated: "The decentralized financial system continues to develop intricately. Although it is important to deal with risks, blockchain technology, including Web 3.0, has the potential to become a source of innovation in the medium and long term. We hope that through cooperation with The collaboration between HKMA and financial institutions further enhances our knowledge in this area."

Previously, it was reported in May last year that the Monetary Authority of Singapore (MAS) and the financial industry's Project Guardian will test the feasibility of asset tokenization and DeFi applications, while trying to manage financial stability and integrity risks. The project aims to develop and pilot use cases in areas such as open, interoperable networks, trust anchors, and institutional-grade DeFi protocols.