1. In June 2023, the Monetary Authority of Singapore (MAS) released a whitepaper proposing a common protocol that spelt out exactly the conditions when digital money such as central bank digital currencies (CBDCs), tokenised bank deposits, and stablecoins on a distributed ledger should be used.
2. Swiss bank UBS took part in Project Guardian - an initiative led by the Monetary Authority of Singapore - to do a pilot of a tokenized version of its variable capital company (VCC) fund. It used the Ethereum blockchain to do several activities like redemptions and fund subscriptions.
3. DBS, one of Singapore’s leading banks took part in Project Guardian - an initiative led by the Monetary Authority of Singapore - to experiment with the purchase and sale of tokenised versions of Singapore Government Securities, Singapore Dollars, Japanese Government Bonds, and Japanese Yen. These test trades were conducted via an automated market marker (AMM), which leveraged smart contracts to automatically execute buy and sell transactions.
4. Tokenisation is also gaining traction in the real estate industry as it allows high-value properties to be broken down into digital tokens, thus making it cheaper for people wanting to invest in real estate. FRX Capital allows Singaporean investors to buy digital tokens of landed property on the  Ethereum blockchain.
5. Standard Chartered has completed a trial in which it issued a tokenised asset backed security (ABS) on the Ethereum network and listed it on the SGX (Singapore Exchange). The asset is a trade finance portfolio from the LinkLogis trade finance platform.

References

https://www.mas.gov.sg/news/media-releases/2023/mas-proposes-standards-for-digital-money#1

https://cointelegraph.com/news/ethereum-ubs-tokenize-money-market-fund-launch

https://vulcanpost.com/807613/dbs-successful-test-fx-trading-defi/

https://www.straitstimes.com/business/property/s-pore-s-thriving-property-market-drives-investor-interest-in-real-estate-tokens

https://www.ledgerinsights.com/singapore-tokenization-stanchart-hsbc-citi-ubs-public-blockchain/