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Deutsche Bank selects Axelar developer as partner in joining Project Guardian Singapore
The post Deutsche Bank selects Axelar developer as partner in joining Project Guardian Singapore appeared on BitcoinEthereumNews.com. Deutsche Bank has shown increased interest in digital assets and tokenization by joining the Monetary Authority of Singapore’s Project Guardian. This initiative tests asset tokenization applications in a regulated environment, focusing on the viability and potential integration within the financial markets. Participation in Project Guardian will also involve Memento Blockchain and Interop Labs. The former, a specialist in decentralized finance and hyper-chain zero-knowledge, previously partnered with Deutsche Bank on the DAMA 1 proof-of-concept in 2023. This ongoing collaboration is set to yield DAMA 2, promising further advancements in blockchain technology. Interop Labs, known for developing the Axelar network—the Web3 interoperability platform—will also support Deutsche Bank’s efforts under Project Guardian. This project illustrates a growing trend of regulatory bodies and financial institutions examining emerging asset management technologies’ potential benefits and challenges. Project Guardian stands as a multi-year collaborative effort. It draws participation from global policymakers like the FCA in the United Kingdom, FINMA in Switzerland, and the FSA in Japan, along with representatives from the financial services industry. This project illustrates a growing trend of regulatory bodies and financial institutions examining emerging asset management technologies’ potential benefits and challenges. Within the framework of Project Guardian, Deutsche Bank aims to explore the functionalities of an open architecture and interoperable blockchain platform. This platform is designed to service both tokenized and digital funds. The bank’s contributions are expected to influence protocol standards and identify industry best practices, advancing the broader dialogue around digital assets. Anand Rengarajan, Head of Securities Services for Asia Pacific and the Middle East and Global Head of Sales, emphasized the bank’s commitment to this venture. “We are committed to being a leader in driving the development and adoption of digital assets in Singapore and Asia Pacific,” said Rengarajan. He noted that their involvement in Project Guardian would enhance their…
The post Deutsche Bank selects Axelar developer as partner in joining Project Guardian Singapore appeared on BitcoinEthereumNews.com.
Deutsche Bank has shown increased interest in digital assets and tokenization by joining the Monetary Authority of Singapore’s Project Guardian. This initiative tests asset tokenization applications in a regulated environment, focusing on the viability and potential integration within the financial markets. Participation in Project Guardian will also involve Memento Blockchain and Interop Labs. The former, a specialist in decentralized finance and hyper-chain zero-knowledge, previously partnered with Deutsche Bank on the DAMA 1 proof-of-concept in 2023. This ongoing collaboration is set to yield DAMA 2, promising further advancements in blockchain technology. Interop Labs, known for developing the Axelar network—the Web3 interoperability platform—will also support Deutsche Bank’s efforts under Project Guardian. This project illustrates a growing trend of regulatory bodies and financial institutions examining emerging asset management technologies’ potential benefits and challenges. Project Guardian stands as a multi-year collaborative effort. It draws participation from global policymakers like the FCA in the United Kingdom, FINMA in Switzerland, and the FSA in Japan, along with representatives from the financial services industry. This project illustrates a growing trend of regulatory bodies and financial institutions examining emerging asset management technologies’ potential benefits and challenges. Within the framework of Project Guardian, Deutsche Bank aims to explore the functionalities of an open architecture and interoperable blockchain platform. This platform is designed to service both tokenized and digital funds. The bank’s contributions are expected to influence protocol standards and identify industry best practices, advancing the broader dialogue around digital assets. Anand Rengarajan, Head of Securities Services for Asia Pacific and the Middle East and Global Head of Sales, emphasized the bank’s commitment to this venture. “We are committed to being a leader in driving the development and adoption of digital assets in Singapore and Asia Pacific,” said Rengarajan. He noted that their involvement in Project Guardian would enhance their…
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