Deutsche Bank is advancing its blockchain strategy and testing a new platform based on Ethereum

Deutsche Bank has announced its strategy to advance blockchain technology in response to the challenges facing the financial services industry. Deutsche Bank is participating in Project Guardian in Singapore, a project led by the Monetary Authority of Singapore to leverage the benefits of blockchain for financial marekt. Deutsche Bank is currently testing a new platform based on the Ethereum network to serve tokenized funds under Project Guardian.
Anand Rengarajan, Head of Securities Services Asia Pacific and Middle East and Head of Global Sales at Deutsche Bank, stressed the urgency of adopting innovative technologies and said that blockchain is essential to help us stay competitive as margin compression impacts the financial services industry.