Deutsche Bank Successfully Finishes Trial of Tokenized Investing Platform

Deutsche Bank Successfully Finishes Trial of Tokenized Investing Platform

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German financial giant Deutsche Bank is announcing the successful finish of a trial for a tokenized investing platform.

In a new announcement, Deutsche Bank says it has successfully completed a new proof of concept in collaboration with the Memento blockchain.

The bank says that the aim of the new protocol, known as Project DAMA (Digital Asset Management Access), is to provide a more efficient and safe network for managing and accessing digital assets.

Currently, Deutsche Bank says that asset managers looking to release crypto-focused investment products must jump through several hoops before being able to do so.

“Today, asset managers looking to launch digital asset-type investment products will need to collaborate with multiple intermediaries and service providers, including transfer agents, fund administrators, and payments providers, before they can design and launch the fund…

All told, this makes the process of launching or accessing these funds not only time-consuming, but costly and risky, which, outside of the most well-resourced players, would discourage most asset managers and institutional investors from entering the market.”

According to Deutsche Bank, Project DAMA will remove some of the traditional barriers associated with accessing crypto assets.

“By providing a one-stop digital fund investment servicing platform, asset managers and their existing transfer agents, fund administrators, and custodians can plug-in-and-play to significantly reduce the effort and cost required to launch and administer digital funds.

At the same time, Project DAMA aims to be an open architecture platform that can facilitate investors’ access to different funds from different asset managers, as well as cater to different custody models.”

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Featured Image: Shutterstock/Natalya Yudina/WindAwake

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