Deutsche Bank Working on Institutional Crypto Solution for Regulatory Hurdles: Report
Germany-headquartered Deutsche Bank is reportedly developing a solution for the regulatory challenges that financial institutions face when using public blockchains.
Bloomberg reports that the global investment bank is building a layer-2 blockchain for leading smart contract platform Ethereum (ETH) to address regulatory concerns of financial firms such as inadvertently dealing with criminals and sanctioned entities.
The layer-2 chain is incorporated in the firm’s multi-chain asset servicing pilot, Project Dama 2, which is part of the Monetary Authority of Singapore’s (MAS) Project Guardian initiative, a collaboration of 24 major financial institutions that explore asset tokenization.
Deutsche Bank’s Asia-Pacific…
