Deutsche Bank has joined the Monetary Authority of Singapore’s (MAS) Project Guardian in an effort to test the feasibility of asset tokenisation applications in regulated financial markets.
The bank will test an open architecture and interoperable blockchain platform to service tokenised and digital funds. It will then propose protocol standards and identify best practices to contribute to industry progress.
Anand Rengarajan, head of Securities Services for APAC and the Middle East and global head of Sales says: “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.”
Mike Clarke, global head of Securities Services Product Management comments: “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.”
