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May 15, 2024

Deutsche Bank Joins Singapore’s Project Guardian Asset Tokenization Project

Deutsche Bank, one of the world's leading financial service providers, has recently joined Singapore's Project Guardian, an asset tokenization project. The project, orchestrated by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS), seeks to harness the benefits of digitizing physical assets for more efficient transactions. The project involves issuing and trading tokenized assets on a distributed ledger technology (DLT), a form of blockchain technology. This will facilitate the conversion of rights to an asset into a digital token on a blockchain. Overall, this move will further boost the adoption of distributed ledger technology in financial processes and heighten the efficiency and reliability of financial transactions. It also positions Deutsche Bank at the forefront of integrating technological advancements in financial markets.