Deutsche Bank Joins Project Guardian

Deutsche Bank has become the latest firm to join Project Guardian, led by the Monetary Authority of Singapore (MAS), aimed at exploring and developing solutions for asset tokenisation.

Deutsche has joined as part of the asset and wealth management workstream and will test an open architecture and interoperable blockchain platform to service tokenised and digital funds. It will then propose protocol standards and identify best practice to contribute to industry progress.

In late 2022, DBS Bank, JP Morgan and SBI Digital Asset Holdings conducted FX and government bond transactions against liquidity pools comprising of tokenised Singapore government securities bonds, Japanese government bonds, Japanese yen and Singapore dollar, as part of Guardian.

Following this, MAS unveiled plans to expand the project with five additional industry pilots to test what it said were “promising” asset tokenisation use cases. To this end, it was joined by a host of commercial banks, asset managers, fintechs and regulators as part of the additional work.

“This potentially paves the way for integration across the capital markets value chain including listing, distribution, trading, settlement, and asset servicing,” the MAS said at the time in a statement.