S & P Global Ratings has announced that it has joined Singapore's "Guardian Initiative", which aims to explore tokenization on public blockchains. The initiative, led by the Monetary Authority of Singapore (MAS), brings together 18 Financial Institution Groups and regulators. S & P will focus on developing a framework for digital asset analysis and evaluation in the fixed income space. Several Financial Institution Groups are conducting fixed income-related trials, reflecting the push of financial marekt towards digital transformation.