Deutsche Bank Finishes Tokenized Investment Experiment

Deutsche Bank, a big German bank, is announcing that a test of a tokenized investing platform went well.

Deutsche Bank says in a new announcement that it has finished a new proof of concept with the Memento blockchain.

The bank says that the goal of the new protocol, which is called Project DAMA (Digital Asset Management Access), is to make it easier and safer to access and manage digital assets on a network.

Deutsche Bank says that right now, asset managers who want to make crypto-focused investment products must go through a number of steps before they can 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.”

Deutsche Bank says that Project DAMA will get rid of some of the usual problems with getting access to 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.”