Deutsche Bank joins Singapore RWA program Project Guardian! Tokenization of research funds

Deutsche Bank’s latest announcement states that the bank has joined Project Guardian, Singapore’s official RWA program. As part of promoting the tokenization technology of both parties, Deutsche Bank will assist in testing an open architecture and operable blockchain platform, striving to provide product services including digital funds.

Deutsche Bank joins Singapore Guardian Program

The statement shows that Deutsche Bank has joined the Monetary Authority of Singapore (MAS) Project Guardian (Guardian Program) and will cooperate with other institutions including the Bank of Singapore. Financial institutions from various countries cooperate to explore the tokenization of financial products, real assets and financing markets.

The bank emphasized that it will assist in the design and testing of a blockchain platform with open architecture and interoperability, provide services for tokenized products and digital funds, and propose relevant protocol standards and formulate industry progress the best method.

It is reported that Deutsche Bank is expected to cooperate closely with the digital asset management platform Memento Blockchain. The two have previously jointly released the cooperation project DAMA on the launch and management of digital funds.

Anand Rengarajan, Head of Asia Pacific Securities Services and Global Sales Manager of Deutsche Bank, said: Participating in the Guardian Program will help us shape new aspects of financial services and enable us to participate more effectively in industry progress; not only for customers predict their needs and exceed their expectations.

And added, "We will continue to be committed to promoting the development and application of digital assets in Singapore and the Asia-Pacific region to become an industry pioneer."

What is Project Guardian?

As an official asset tokenization plan in Singapore, MAS first announced a project called Project Guardian in May 2022, joining hands with global financial giants to adopt DeFi and RWA technologies at a practical level.

Specifically, including JPMorgan Chase’s blockchain platform Onyx, HSBC, UBS Asset Management, Standard Chartered Bank, Citibank, DBS Bank, SBI Digital Asset Holdings, British FCA and Japan Financial Services Agency, etc. , are all participating members of the program.

It is reported that Project Guardian completed the first batch of pilot transactions in November 2022, using a liquidity pool to conduct foreign exchange and multi-national government bond transactions.

Countries are actively exploring RWA applications

In addition to in-depth research on RWA technology, Singapore has also been committed to clarifying the supervision of crypto transactions, including expanding the scope of digital payment supervision and Each exchange issues licenses, etc.

At the same time, Deutsche Bank is not lagging behind, including actively participating in the CBDC sandbox test of cross-border payment leader SWIFT, and cooperating with Swiss financial technology Taurus to develop digital asset custody services.

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