Deutsche Bank joins Project Guardian to explore asset tokenization applications
Deutsche Bank today announced it has joined the Monetary Authority of Singapore’s (MAS) Project Guardian (as part of the asset and wealth management workstream). The collaborative initiative is dedicated to testing the feasibility of asset tokenization applications in regulated financial markets.
Project Guardian is a multi-year project involving global policymakers (including the United Kingdom’s FCA, Switzerland’s FINMA and Japan’s FSA) and financial services industry representatives.
As part of the asset and wealth management workstream, the bank will test an open architecture and interoperable blockchain platform to service tokenized and digital funds. It will then propose protocol standards and identify best practice to contribute to industry progress.
Anand Rengarajan, Head of Securities Services for Asia Pacific and the Middle East and Global Head of Sales said: “We are committed to being a leader in driving the development and adoption of digital assets in Singapore and Asia Pacific."
Contributing to Project Guardian will bolster our efforts to help shape the new frontier of asset servicing, and strongly position us to contribute to industry progress, and not only anticipate our clients’ needs but exceed their expectations. Anand Rengarajan
Mike Clarke, Global Head of Securities Services Product Management said: “Collaborating with leading fintechs and digital natives is key to engineering technologically advanced asset servicing products. This will not only enhance our competitiveness but empower us to create more value. Through Project Guardian, and our work on relevant standardization areas, we hope to elevate the sound and tangible benefits that technology and collaboration can bring to clients and the industry.
Boon-Hiong Chan, Deutsche Bank’s Asia Pacific Head of Securities & Technology Advocacy and Industry Applied Innovation Lead, will be the bank’s lead for Project Guardian. It will closely work with Memento Blockchain (a decentralized finance and hyper-chain zero-knowledge specialist), with whom it previously executed the proof-of-concept DAMA 1 in 2023. These new efforts will deliver DAMA 2. Interop Labs, the initial developer of the Axelar network (a Web3 interoperability platform) will also join the bank’s efforts.
Deutsche Bank AG
Media Relations
Kate Fields
Phone: +852 2203 5094
Email: kate.fields@db.com
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 12 March 2021 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.
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Deutsche Bank today announced it has joined the Monetary Authority of Singapore’s (MAS) Project Guardian (as part of the asset and wealth management workstream). The collaborative initiative is dedicated to testing the feasibility of asset tokenization applications in regulated financial markets.
Project Guardian is a multi-year project involving global policymakers (including the United Kingdom’s FCA, Switzerland’s FINMA and Japan’s FSA) and financial services industry representatives.
As part of the asset and wealth management workstream, the bank will test an open architecture and interoperable blockchain platform to service tokenized and digital funds. It will then propose protocol standards and identify best practice to contribute to industry progress.
Anand Rengarajan, Head of Securities Services for Asia Pacific and the Middle East and Global Head of Sales said: “We are committed to being a leader in driving the development and adoption of digital assets in Singapore and Asia Pacific."
Mike Clarke, Global Head of Securities Services Product Management said: “Collaborating with leading fintechs and digital natives is key to engineering technologically advanced asset servicing products. This will not only enhance our competitiveness but empower us to create more value. Through Project Guardian, and our work on relevant standardization areas, we hope to elevate the sound and tangible benefits that technology and collaboration can bring to clients and the industry.
Boon-Hiong Chan, Deutsche Bank’s Asia Pacific Head of Securities & Technology Advocacy and Industry Applied Innovation Lead, will be the bank’s lead for Project Guardian. It will closely work with Memento Blockchain (a decentralized finance and hyper-chain zero-knowledge specialist), with whom it previously executed the proof-of-concept DAMA 1 in 2023. These new efforts will deliver DAMA 2. Interop Labs, the initial developer of the Axelar network (a Web3 interoperability platform) will also join the bank’s efforts.
Deutsche Bank AG
Media Relations
Kate Fields
Phone: +852 2203 5094
Email: kate.fields@db.com
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 12 March 2021 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.
Further links on the topic
Generative AI in finance
Deutsche Bank in Asia Pacific
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