Regional tokenisation track · Asia

    One substrate. MAS, HKMA, JFSA, BOJ.

    The Asian tokenisation track spans Singapore's Project Guardian, Hong Kong's Ensemble and e-HKD, Japan's stablecoin and tokenised-deposit regime, and the BOJ's wholesale CBDC work. The full Cabier substrate ships in Q3 2026; this brief states the perimeter and accepts briefing requests now.

    In development
    Q3 2026
    Regulator map
    MAS — Monetary Authority of Singapore

    Project Guardian, Purpose-Bound Money, Notice 824/626 custody and operational risk, Payment Services Act stablecoin regime.

    HKMA — Hong Kong Monetary Authority

    Project Ensemble wholesale CBDC and tokenised-deposit sandbox; e-HKD pilot; stablecoin issuer regime under the 2024 ordinance.

    JFSA — Japan Financial Services Agency

    Payment Services Act stablecoin framework, trust-type and bank-type deposit tokens, sponsor-bank model.

    BOJ — Bank of Japan

    Wholesale CBDC proof-of-concept and FMI oversight.

    Cohort treatment in Asia
    Cohort A · Tokenised securities (Asia)

    MAS Project Guardian asset-management and FX pilots, HKMA Ensemble bond settlement, JFSA tokenised-security offering rules.

    Cohort B · Tokenised deposits (Asia)

    DBS and JPM Kinexys cross-border deposit-token activity, HKMA tokenised-deposit sandbox, Japanese bank-type deposit tokens under the JFSA framework.

    Build deltas against the generic global substrate
    Δ1
    Multi-regulator control library

    MAS, HKMA, JFSA control sets layered on the global substrate with explicit per-jurisdiction reweighting.

    Δ2
    Purpose-Bound Money instrumentation

    MAS PBM envelope carried through Cabier Protocol with programmable-conditions evidence.

    Δ3
    Cross-border consortium reconciliation

    DBS / Kinexys / Project Ensemble cross-jurisdiction flows reconciled with sovereign-residency constraints honoured.

    What is withheld from this brief

    ORS weights, the effectiveness-grade rubric, Trust Gate definitions, the dependency-graph internals, and the institutional control library specifics for Asia. The category map is public; the full operating disclosure is released only under signed terms.

    Cabier sits above the rail. The rail settles; the institution governs.