Deutsche Bank Tests Memento Blockchain
Deutsche Bank (DBK) and Memento Blockchain have successfully completed Project DAMA (Digital Assets Management Access), a proof of concept to provide a more efficient, secure, and flexible solution for digital fund management and investment servicing.
According to a report by Deutsche, the project aims to address the challenges associated with launching and accessing digital funds. “On 5 August 2022, this proof of concept was also awarded the Monetary Authority of Singapore’s Financial Sector Technology and Innovation (FSTI) POC grant,” the bank said.
Project DAMA would work as a one-stop digital fund investment servicing platform where asset managers and their existing transfer agents, fund administrators, and custodians can plug in and play to significantly reduce the effort and cost required to launch and administer digital funds, the bank said.
(With inputs from Shikha Singh)
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