Project Guardian is a Monetary Authority of Singapore initiative exploring how regulated financial institutions can participate in institutional DeFi workflows using tokenized assets. The Guardian Wholesale Network, developed as the core infrastructure layer of the initiative, was designed to support composable finance across a broad range of multi-asset, multi-currency transactions including DvP and PvP mechanisms, enabling next-generation customizable financial solutions with programmable privacy in a single environment.

The network needed to support a broad range of multi-asset, multi-currency, multi-member transactions simultaneously across tokenized cash, FX, fixed income, and asset and wealth management, while maintaining programmable privacy and meeting the governance, performance, and reliability requirements of participating regulated global financial institutions.

Kaleido provided and managed the blockchain network infrastructure alongside digital assets and middleware tooling that allowed MAS and participating institutions to experiment with tokenized deposits, on-chain asset representations, and programmable financial workflows.

Kaleido powered the GWN live industry testnet, delivering a multi-member, multi-asset, and multi-currency network enabling transactions across tokenized cash and FX, fixed income, and asset and wealth management in a single environment with privacy enabled, delivering cross-use case composability on a business-ready platform for commercial asset tokenization use cases.