The Singapore branch of Deutsche Bank, one of the world’s largest banks based in Germany, announced on February 21 that it had successfully completed the test of its tokenized investment platform.
Deutsche Bank Singapore and Memento Blockchain developed to facilitate investing in tokenized securities. CHECKERS The preliminary preparation of the project has been completed. According to the statement, asset managers participating in the test created a digital asset fund through their token.
How Does DAMA Work?
Memento Blockchain to realize this project Ethereum on a network DeFi created the token. The token, named SBT, allowed developers to verify the identity of wallet holders. KYC checks and other documents containing customer information are stored off-chain.
Large investors holding the SBT token invest in the funds, providing collateral to the tokenized shares.
Deutsche Bank Singapore and Memento Blockchain, the parent companies of the venture, are for the wallet service in the DAMA project. MetaMask preferred. The German bank wants to launch its tokenized investment platform first in Singapore and move it to the European region.
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