Deutsche Bank is the latest bank to join the Monetary Authority of Singapore’s multi-year Project Guardian project to explore asset tokenization applications.
Deutsche Bank participates in the asset and wealth management space and is testing an open architecture and interoperable blockchain platform for managing tokenized and digital funds.
Mike Clarke, Global Head, Securities Services Product Management, Deutsche Bank, said: “Through Project Guardian and our work in relevant standardization areas, we hope to increase the deep and tangible benefits that technology and collaboration can bring to customers and the industry.” “
The German lender joins companies such as Citi, Fidelity, OCBC and JPMorgan, all of which began pilots in November under Project Guardian, which is exploring the tokenization of assets in fixed income, foreign exchange and wealth management products.