Mamoru Yanase, Deputy Director-General of the Strategy Development and Management Bureau at the FSA, said: "We are delighted to join the Project Guardian as an observer. Decentralized financial ecosystem continues to develop in complexity, and it is important to address emerging risks. Blockchain technology including web3 has a potential to become a strong driver of innovation. We look forward to working with MAS, traditional financial institutions and FinTech firms to further enhance our knowledge in this area."

The central banks were the Bank of Canada, the Bank of England, the Bank of Japan, the ECB, the Federal Reserve, the Swiss National Bank and the Riksbank.

The network aims to provide an open and neutral sphere for all blockchain stakeholders to deepen their understanding, address issues they face to attain sustainable development of the blockchain community. Their aims are to:

1. create an open, global and neutral platform for multi-stakeholder dialogue;
2. develop a common language and understandings among stakeholders with diverse perspectives; and
3. build academic anchors through continuous provision of trustable documents and codes based on an open source-style approach.