Deutsche Bank completes trial of tokenized investment platform

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according to report On February 21, Deutsche Bank Singapore and Memento Blockchain successfully completed the proof-of-concept phase of Project DAMA (Digital Assets Management Access), designed to facilitate the management of digital funds investing in tokenized securities. Did. According to the report, asset managers were able to create digital asset funds using their own soulbound tokens, providing users with a direct fiat-to-digital entry point. Institutional investors can join the fund through direct token issuance, decentralized exchange aggregators, or embedded marketplaces.

As a first step, Deutsche Bank and Memento Blockchain have created a decentralized finance (DeFi) platform on Ethereum and a proprietary, non-transferable Soulbound Token (SBT). SBT allows platform developers to verify the identity of wallet owners and grant access to investment opportunities without asking for personal information each time. Trust anchors, on the other hand, keep Know Your Customer (KYC) checks and accompanying documents off-chain. SBTs can also be used to restrict access to services and products that do not match the underlying user’s risk tolerance and experience.

To invest in the fund, institutional investors holding SBT provide collateral to issue and receive tokenized shares of the underlying digital investment fund of their choice. Tokenized shares can be exchanged for digital assets, such as stablecoins, via a built-in digital marketplace. As for the asset manager, his one window on the Ethereum testnet that includes various strategies such as DeFi staking can be used to create tokenized funds.

Subscription to Project DAMA Fund via DEX Aggregator.Source: Memento Blockchain and Deutsche Bank

For asset security, Deutsche Bank and Memento Blockchain used MetaMask for Project DAMA. MetaMask is built into the platform as the digital wallet of choice for partners to facilitate the transfer of digital assets. The institutional investor will be required to hold both her SBT and KYC in the MetaMask wallet in order to access the platform’s decentralized applications. As a next step, Deustche Bank said it is considering using Project DAMA in Singapore, where it currently has 1,100 registered fund managers and in total he has $3.36 trillion in assets under management.