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Deutsche Bank has become a participant in Project Guardian. In this initiative, the bank will explore open networks and compatible blockchain technologies to manage tokenized and digital assets while also establishing standards for asset tokenization protocols.
Deutsche Bank (DBK), the largest financial institution in Germany, has declared its involvement in Project Guardian, an initiative led by the Monetary Authority of Singapore (MAS). Within this project, the bank will assess DLT networks and open digital frameworks for asset tokenization in regulated financial markets.
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In particular, Deutsche Bank will engage in a series of tests within public networks and compatible blockchain systems that accommodate tokenized and digital assets. Following the evaluation of these systems, DBK intends to create a framework of standards for tokenization protocols, which will promote widespread acceptance of this asset category and stimulate industry growth.
The research effort will be overseen by Boon-Hiong Chan, the Head of Deutsche Bank’s Asia Pacific division. The bank will utilize insights derived from Project DAMA, a collaborative initiative with the blockchain project Memento. Furthermore, DBK plans to incorporate its own custodial solution for institutional clients, introduced earlier this year, into the testing phase.
Project Guardian was initiated by the MAS in 2022. This initiative examined the potential for trading tokenized assets via public networks, involving 11 traditional finance firms. The project also included participation from Japan’s Financial Services Agency (FSA) and the Swiss financial institution UBS. Additionally, a dedicated regulatory group was formed to supervise the development of projects under this initiative. At the close of last year, Project Guardian was broadened, leading to the establishment of a corporate DLT network by financial powerhouses JPMorgan and Apollo Global Management.
Сообщение Deutsche Bank to Develop Standards for Tokenization Protocols появились сначала на CoinsPaid Media.
