Joining the MAS-led asset tokenization initiative is Deutsche Bank.
The Monetary Authority of Singapore's multi-year Project Guardian project, which aims to investigate asset tokenization applications, has welcomed Deutsche Bank as its newest member.
In order to handle tokenized and digitized money, Deutsche Bank is evaluating an open architecture, interoperable blockchain platform as part of the asset and wealth management workstream.
"With Project Guardian and our work on relevant standardization areas, we hope to elevate the sound and tangible benefits that technology and collaboration can bring to clients and the industry," says Mike Clarke, global head of Deutsche Bank's securities services product management.
The German lender has joined the likes of Fidelity, OCBC, JPMorgan, and Citi, who started pilot programs in November to look into asset tokenization in foreign exchange, fixed income, and asset management products as part of Project Guardian.
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