Singapore, 5 August 2025 – The Investment Management Association of Singapore (IMAS) and Investment Association (IA) and have today announced their participation in Project Guardian, an international initiative led by the Monetary Authority of Singapore (MAS) to explore the potential of blockchain and asset tokenisation.

The IA and IMAS are both the first domestic trade associations and first asset management-specific bodies to join Project Guardian in a major step to drive innovation in the investment management industry.

Project Guardian is an international collaborative initiative between policymakers and the finance industry to enhance the liquidity and efficiency of financial markets through asset tokenisation. It aims to establish industry frameworks and standards on asset tokenisation, foster the use of tokenisation across different asset classes, and to develop a sustainable digital asset ecosystem. In turn, this has the potential to improve financial inclusion and efficiency by making tokenised assets available to a wider audience.

Run by the MAS, Project Guardian includes a number of other regulators such as the Financial Conduct Authority (FCA) in the UK.

Carmen Wee, CEO of Investment Management Association of Singapore, commented:

“IMAS is proud to be part of Project Guardian. Tokenization offers real potential to enhance cross-border access, efficiency while reducing costs, making investments accessible. A trusted and inclusive digital economy must be built on connectivity and cooperation. IMAS is committed to working with our partners to build a resilient and interoperable ecosystem, one where investors and managers better understand the opportunities and risks of tokenized assets. We look forward to working closely with MAS, FCA and UK AI in this exciting initiative.”

Chris Cummings, CEO of the Investment Association, commented:

“Tokenisation and digital markets are a huge focus area with significant growth potential for the UK investment management industry. Blockchain and tokenised assets are not constrained by borders, and the Investment Association is delighted to have been invited to join Project Guardian to drive international coordination as we design the future of the global financial system.“

“We have long advocated for fund modernisation and innovation through our Investment Fund 3.0 agenda, a vision for the tokenisation of a UK funds industry whose full value chain is operated on Distributed Ledger Technology. We look forward to working with MAS, IMAS and all other Project Guardian participants to share market experiences and drive forward innovative regulatory developments for the benefits of investors across the globe.”

By fostering two-way engagement, IMAS and IA UK aim to ensure that investor protection, commercial viability, and responsible innovation remain central to the development of tokenised markets.

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Notes to Editors

The IA and IMAS will join as ‘Associations & Cooperatives’ members alongside existing global bodies such as:

• Capital Markets and Technology Association (CMTA)
• Global Financial Markets Association (GFMA)
• International Capital Market Association (ICMA)
• International Swaps and Derivatives Association (ISDA)
• Society for Worldwide Interbank Financial Telecommunications (Swift)

About the Investment Management Association of Singapore (IMAS)

The Investment Management Association of Singapore (IMAS) was founded on 22nd September 1997 by 10 major financial institutions in Singapore and has since grown to include more than 150 members. As a representative body of investment managers, IMAS spearheads the development of the industry in Singapore, by fostering high standards of professionalism amongst practitioners and creating public awareness of, and interest in the industry. We act as a forum for members, promote exemplary best practices, represent members collectively, educate investors, and improve standards of research and fund management expertise, as a collective drive to promote the investment management industry.

About the Investment Association (IA):

• The IA champions UK investment management, supporting British savers, investors and businesses. Our 250 members manage £9.1 trillion of assets and the investment management industry supports 126,400 jobs across the UK.
• Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
• Our purpose is to ensure investment managers are in the best possible position to:
  • Build people’s resilience to financial adversity
  • Help people achieve their financial aspirations
  • Enable people to maintain a decent standard of living as they grow older
  • Contribute to economic growth through the efficient allocation of capital.
• The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
• The UK is the second largest investment management centre in the world, after the US and manages 37% of all assets managed in Europe.

Media Contact 

Financial PR

Tiwari Rishika

T: 6438-2990 

E: IMAS@financialpr.com.sg