Deutsche Bank Joins MAS’ Project Guardian to Explore Asset Tokenisation

Deutsche Bank Joins MAS’ Project Guardian to Explore Asset Tokenisation

by May 15, 2024

Deutsche Bank has announced its participation in the Monetary Authority of Singapore’s (MAS) Project Guardian. This initiative focuses on exploring the potential of asset tokenisation in regulated financial markets.

Project Guardian, a multi-year effort, involves collaboration between global policymakers such as the UK’s FCA, Switzerland’s FINMA, and Japan’s FSA, along with representatives from the financial services industry.

Within the asset and wealth management workstream, Deutsche Bank will test an open architecture and interoperable blockchain platform for servicing tokenised and digital funds.

The bank aims to propose protocol standards and identify best practices to advance industry development.

Leading Deutsche Bank’s involvement in Project Guardian is Boon-Hiong Chan, the Asia Pacific Head of Securities and Technology Advocacy and Industry Applied Innovation Lead.

The bank will collaborate with Memento Blockchain, a decentralised finance specialist, to deliver DAMA 2, following the proof-of-concept DAMA 1 in 2023.

Interop Labs, the initial developer of the Axelar network, will also participate in these efforts.

Anand Rengarajan

Anand Rengarajan

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.”

Mike Clarke

Mike Clarke

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 standardisation areas, we hope to elevate the sound and tangible benefits that technology and collaboration can bring to clients and the industry.”