Deutsche Bank joined Project Guardian. As part of the initiative, the bank will test open networks and compatible blockchain platforms to service tokenized and digital funds and propose standards for asset tokenization protocols.
Deutsche Bank (DBK), Germany’s largest financial conglomerate, announced its participation in Project Guardian, an initiative by the Monetary Authority of Singapore (MAS). As part of the project, the bank will test DLT networks and open digital architecture for asset tokenization in regulated financial markets.
Specifically, Deutsche Bank will conduct a series of experiments within public networks and compatible blockchain platforms that support tokenized and digital funds. As a result of testing these systems, DBK plans to develop a set of standards for tokenization protocols, which will facilitate the mass adoption of this asset class and the growth of the industry.
The research process will be led by Boon-Hiong Chan, Deutsche Bank’s Asia Pacific Head. The bank will leverage insights gained from Project DAMA, a joint initiative with blockchain project Memento. Additionally, DBK plans to use its own custodial solution for institutional investors, launched earlier this year, in the testing process.
Project Guardian was launched by the MAS in 2022. The initiative tested the capabilities of trading tokenized assets through public networks with the participation of 11 TradFi companies. The project also saw the involvement of Japan’s Financial Services Agency (FSA) and the Swiss financial holding UBS. Furthermore, a special regulatory group was created to oversee the development of projects within the initiative. At the end of last year, Project Guardian was expanded, and financial giants JPMorgan and Apollo Global Management launched a corporate DLT network based on it.
