Deutsche Bank Advances Digital Assets with Singapore's Project Guardian

Deutsche Bank has taken a significant step in the digital asset arena by joining forces with Project Guardian of the Monetary Authority of Singapore (MAS). This partnership aims to explore the potential of asset tokenization in regulated financial markets, marking a pivotal move towards modernizing financial infrastructures.
Project Guardian is an ambitious multi-year endeavor that has brought together global policymakers and financial institutions, including the UK, Switzerland, and Japan. The project aims to create practical applications and solutions for asset and wealth management in the digital economy.
Deutsche Bank will test an interoperable blockchain platform designed to handle tokenized and digital funds efficiently as part of this project. The bank intends to propose standards and develop best practices that could potentially shape the future of the asset management industry.
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Anand Rengarajan, Deutsche Bank's Head of Securities Services Asia Pacific and Middle East and Global Head of Sales, said the bank is committed to leading the development and adoption of digital assets in Singapore and across Asia Pacific. 
“Participating in Project Guardian will enhance our ability not only to meet but exceed our client’s expectations, shaping the future of asset servicing,” Rengarajan said.
Mike Clark, Global Head of Product Management for Securities Services, emphasized the importance of partnering with fintech companies and digital natives. 
“These partnerships are critical to developing technologically advanced asset servicing products that enhance our competitiveness and add value for our clients,” Clark said.
Boon-Hiong Chan, who heads Deutsche Bank's securities and technology business in Asia Pacific, will lead the bank's participation in Project Guardian. The bank plans to work closely with Memento Blockchain, a company known for its expertise in decentralized finance and zero-knowledge evidence, and Interop Labs, developers of the Axelar network, specializing in Web3 interoperability.
Through this collaboration and the continuation of projects such as DAMA 1 and the upcoming DAMA 2, Deutsche Bank is positioning itself at the forefront of the financial industry's transition to a more digital and connected future.