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Deutsche Bank Singapore branch has announced the successful completion of the proof-of-concept phase of the DAMA (Digital Asset Management Access) Project. DAMA was designed in collaboration with Memento Blockchain and has studied the possibility of investing in tokenized securities through digital funds.
Deutsche Bank’s DAMA to Transform the Fund Management Industry
Memento Blockchain and Deutsche Bank originally created a decentralized finance (DeFi) based platform Ethereum (ETH) blockchain and non-transferable life-bound token (SBT). Using their proprietary tokens, developers verify the wallet holder’s identity and grant them access to investment services without the need for additional background checks.
Meanwhile, the trust anchor is responsible for controlling user identity and keeping off-chain records. In addition, SBT may restrict access to products and services that are inconsistent with a potential investor’s experience or level of risk tolerance.
“The POC DAMA project aims to test and demonstrate the technical and commercial feasibility of some of these key innovative features, which in turn can lower the barriers to entry for asset managers looking to launch digital funds. Infrastructure is designed to be a one-stop investment services platform that combines and adapts components the core of transfer agency, fund administration, custody and payments for a digital funds environment,” commented Federico Cristina, Director and Co-Founder of Memento Blockchain.
Institutional investors wishing to invest in a fund must not only hold SBT but at the same time must provide collateral to mint and receive token shares in their chosen digital fund. Tokenized shares can be exchanged on digital asset markets created explicitly for this purpose.
Project DAMA uses MetaMask for asset security. This service has been built into the platform in the form of a digital wallet, chosen by the project partners to facilitate easier transfers of cryptocurrencies.
Currently, Deutsche Bank is exploring wider use of DAMAs in Singapore where there are more than 1,100 registered fund managers, managing nearly $3.4 trillion in assets.
Watch a recent FMLS22 panel titled: “Hodling on? Reimagining Crypto Market Structure.”
Asset Tokenization Gains Popularity
The topic of tokenizing traditional market assets and moving them to decentralization blockchains Ecosystems are gaining popularity all over the world. Although the first platforms of this kind have already developed rapidly, their full potential and possibilities remain untapped.
Tokenization allows not only the ability to convert company shares into digital tokens, but is also a way to transfer parts of the real world into the digital world. Art, real estate, physical commodities and even intellectual property can be tokenized. The advantages of this solution provide access to greater liquidity, greater transparency, reduced costs, and a much wider base of potential investors.
Financial figure recently spoke with Asif Kamal, CEO of Artfi. Artfi launched in 2022 to democratize and fragment the $1.7 trillion fine art and collectibles market. Artfi allows investors to own shares in some of the world’s most sought-after works of art.
“The theme of the next decade will be tokenization of physical assets. We feel that we position Artfi as a leader in this domain, especially when it comes to fine arts tokenization. Crypto and NFTs have been hit hard in the past 12 months due to a complicated macro environment mired in high inflation and monetary tightening ,” Kamal commented.
Deutsche Bank Singapore branch has announced the successful completion of the proof-of-concept phase of the DAMA (Digital Asset Management Access) Project. DAMA was designed in collaboration with Memento Blockchain and has studied the possibility of investing in tokenized securities through digital funds.
Deutsche Bank’s DAMA to Transform the Fund Management Industry
Memento Blockchain and Deutsche Bank originally created a decentralized finance (DeFi) based platform Ethereum (ETH) blockchain and non-transferable life-bound token (SBT). Using their proprietary tokens, developers verify the wallet holder’s identity and grant them access to investment services without the need for additional background checks.
Meanwhile, the trust anchor is responsible for controlling user identity and keeping off-chain records. In addition, SBT may restrict access to products and services that are inconsistent with a potential investor’s experience or level of risk tolerance.
“The POC DAMA project aims to test and demonstrate the technical and commercial feasibility of some of these key innovative features, which in turn can lower the barriers to entry for asset managers looking to launch digital funds. Infrastructure is designed to be a one-stop investment services platform that combines and adapts components the core of transfer agency, fund administration, custody and payments for a digital funds environment,” commented Federico Cristina, Director and Co-Founder of Memento Blockchain.
Institutional investors wishing to invest in a fund must not only hold SBT but at the same time must provide collateral to mint and receive token shares in their chosen digital fund. Tokenized shares can be exchanged on digital asset markets created explicitly for this purpose.
Project DAMA uses MetaMask for asset security. This service has been built into the platform in the form of a digital wallet, chosen by the project partners to facilitate easier transfers of cryptocurrencies.
Currently, Deutsche Bank is exploring wider use of DAMAs in Singapore where there are more than 1,100 registered fund managers, managing nearly $3.4 trillion in assets.
Watch a recent FMLS22 panel titled: “Hodling on? Reimagining Crypto Market Structure.”
Asset Tokenization Gains Popularity
The topic of tokenizing traditional market assets and moving them to decentralization blockchains Ecosystems are gaining popularity all over the world. Although the first platforms of this kind have already developed rapidly, their full potential and possibilities remain untapped.
Tokenization allows not only the ability to convert company shares into digital tokens, but is also a way to transfer parts of the real world into the digital world. Art, real estate, physical commodities and even intellectual property can be tokenized. The advantages of this solution provide access to greater liquidity, greater transparency, reduced costs, and a much wider base of potential investors.
Financial figure recently spoke with Asif Kamal, CEO of Artfi. Artfi launched in 2022 to democratize and fragment the $1.7 trillion fine art and collectibles market. Artfi allows investors to own shares in some of the world’s most sought-after works of art.
“The theme of the next decade will be tokenization of physical assets. We feel that we position Artfi as a leader in this domain, especially when it comes to fine arts tokenization. Crypto and NFTs have been hit hard in the past 12 months due to a complicated macro environment mired in high inflation and monetary tightening ,” Kamal commented.
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