Deutsche Bank Joins Singapore’s Project Guardian Asset Tokenization Project
Deutsche Bank, a German multinational investment bank, joined Singapore’s Monetary Authority of Singapore’s (MAS) Project Guardian on asset tokenization Tuesday in a press release.
Project Guardian was launched by MAS in 2022 in an effort to fuel collaboration between MAS and other key players in the financial market.
The project focuses on asset tokenization in wholesale funding markets and decentralized finance (DeFi) applications.
It seeks to explore diverse use cases of asset tokenization, including listing, distribution, trading, settlement, and asset servicing.
The bank’s decision came shortly after publishing a report on stablecoins, raising concerns about the transparency of leading issuers such as Tether.
Tether slammed Deutsche Bank’s claims, stating that the report lacked substantial evidence or concrete data to support them.
Deutsche Bank will test an open architecture and interoperable blockchain platform for servicing tokenized and digital funds as part of the collaboration.
This morning, @DeutscheBank announced participation in @MAS_sg Project Guardian, testing compliant asset tokenization applications.
Institutions participating in Guardian have picked Axelar for interoperability 2 years in a row.
Thoughts on why interop is critical for RWAs
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