TL;DR
- Deutsche Bank joins Project Guardian led by MAS to explore asset tokenization in regulated financial markets.
- The collaboration involves testing an open and interoperable blockchain platform for tokenized and digital funds.
- The bank will seek to establish protocol standards and best practices in asset tokenization, led by Boon-Hiong Chan in Asia-Pacific.
Deutsche Bank, one of the leading global financial institutions, has announced its participation in Project Guardian, an initiative led by the Monetary Authority of Singapore (MAS). The collaboration aims to explore the applications of asset tokenization in regulated financial markets and DeFi applications.
Project Guardian, launched by MAS in 2022, is a collaborative endeavor involving global regulators and representatives from the financial industry, including the UK Financial Conduct Authority (FCA), Switzerland’s Financial Market Supervisory Authority (FINMA), and Japan’s Financial Services Agency (FSA).
As part of Project Guardian, Deutsche Bank will test an open and interoperable blockchain platform designed for the service of tokenized and digital funds. The platform aims to facilitate greater efficiency and transparency in asset management, as well as offer new investment opportunities in the market.
The bank will also be responsible for proposing protocol standards and identifying best practices to advance the industry in the field of asset tokenization. Boon-Hiong Chan, the bank’s head of securities and technology in Asia-Pacific, will lead this initiative from the financial institution.
Deutsche Bank Collaborates Again With Memento Blockchain
Additionally, the German bank will collaborate with Memento Blockchain, a software platform specializing in decentralized finance (DeFi) and digital asset management. In order to leverage Memento Blockchain’s expertise and technology to develop innovative solutions in the field of asset tokenization.
This is not the first time they have collaborated on projects related to asset tokenization. In the past, both companies worked together on the development of the DAMA (Digital Assets Management Access) project, which took place between 2022 and 2023.
With this new initiative, Deutsche Bank aims to take a leadership position in the development and adoption of digital assets in Singapore and across the Asia-Pacific region. Participation in Project Guardian will allow the bank to contribute to the advancement of the financial industry and offer innovative solutions that meet the needs of its clients.
