Deutsche Bank Successfully Finished Trial of Tokenized Investing Platform

According to the latest reports, it seems that Deutsche Bank is making important moves in the crypto space. Check out the latest news here.

It’s been just revealed that the German financial giant Deutsche Bank is announcing the successful finish of a trial for a tokenized investing platform.

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

Accoridng to the latest info coming from the Daily Hodl, 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 stated 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…”

The same notes revealed the following:

“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.”

Financial giant Deutsche Bank’s asset management arm is reportedly considering making investments in the crypto industry. The move is reportedly aiming at speeding up its growth after global markets fell last year.

According to a new Bloomberg report, the German banking giant’s DWS Group is already in discussions to invest in two Germany-based crypto firms.

“Sources told Bloomberg that the DWS Group head, CEO Stefan Hoops, is in negotiations to buy a minority stake in Deutsche Digital Assets, a crypto asset manager,” as the online pubcalition the Daily Hodl notes.

Check out our previous article in order to learn more details.