Deutsche Bank Joins Singapore’s Asset Tokenization Project
Deutsche Bank has joined Singapore’s Monetary Authority of Singapore’s (MAS) Project Guardian, focusing on asset tokenization in wholesale funding markets and decentralized finance applications.
The bank will test an open architecture and interoperable blockchain platform to service tokenized and digital funds, propose protocol standards, and identify the best approach to contribute to industry progress. Deutsche Bank’s Asia Pacific head of securities and technology, Boon-Hiong Chan, will lead Project Guardian.
The initiative aims to unlock the potential for a more efficient, secure, and flexible solution for digital fund management and investment servicing. Deutsche Bank’s efforts will involve Interop Labs, the initial developer of the major interoperable blockchain, the Axelar network.
Singapore’s MAS initiated the project in 2022 as a collaborative initiative with other financial market players.
(With inputs from Shikha Singh)
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