Deutsche Bank completes trial of tokenized investment platform
Project DAMA is a novel digital asset management access system for transacting tokenized securities. According to a report on Feb. 21, Deutsche Bank Singapore and Memento Blockchain have 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. Per its report, asset managers were able to create a digital asset fund with its own soulbound token and launch a direct fiat-to-digital on-ramp for users. Institutional investors could then subscribe to the fund through the direct minting of tokens, via a decentralized exchange aggregator, or through a built-in marketplace. As the first step, Deutsche Bank and Memento Blockchain created a decentralized finance (DeFi) platform on Ethereum (ETH) and a unique, non-transferable Soulbound Token. Using the SBT, platform developers could then verify the identity of the wallet owner and grant them access to investment ...