Deutsche Bank is the latest bank to join the Monetary Authority of Singapore's multi-year Project Guardian initiative to explore asset tokenisation applications.
Deutsche Bank is joining the asset and wealth management workstream, testing an open architecture and interoperable blockchain platform to service tokenised and digital funds.
Mike Clarke, global head, securities services product management, Deutsche Bank, says: "Through 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."
The German lender joins the likes of Citi, Fidelity, OCBC and JPMorgan, which in November all began pilot projects as part of Project Guardian investigating asset tokenisation in fixed income, foreign exchange, and asset management products.