Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

Bloomberg: Deutsche Bank advances blockchain strategy and is testing a new platform based on Ethereum

CointimeCointime2024/05/30 01:49
By:Cointime

Deutsche Bank announced that it will strategically advance the development of Blockchain technology to address challenges faced by the financial services industry.The German banking giant is currently involved in Project Guardian in Singapore, which is led by the Monetary Authority of Singapore and aims to leverage the benefits of blockchain for the financial market.Deutsche Bank is currently testing a new platform based on the Ethereum network to provide services for tokenized funds under Project Guardian. Anand Rengarajan, Head of Securities Services for Asia-Pacific and the Middle East and Global Sales Head at Deutsche Bank, emphasized the urgency of adopting innovative technology. He said, "Blockchain is critical to helping us stay competitive because margin compression is affecting the financial services industry."According to Rengarajan, blockchain and smart contract-based solutions can significantly reduce costs, shorten transaction times, and minimize risk.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Stake to earn
APR up to 10%. Always on, always earning.
Stake now!

You may also like

Bitwise CIO says ‘the most powerful people in finance’ are allocating to crypto

An increasing number of top financial advisors are allocating toward crypto assets in their personal portfolios, according to Bitwise CIO Matt Hougan.When allocations spread from advisors to their clients, “things could get interesting quickly,” Hougan said.

The Block2024/09/24 10:39

Cathie Wood's Ark Invest offloads another $2.8 million worth of its own spot Bitcoin ETF

Ark Invest offloaded 44,609 ARKB spot Bitcoin ETF shares on Monday, worth $2.8 million, as the investment firm rebalanced its fund weightings.The Cathie Wood-led firm has sold a total of $17.5 million in ARKB shares from its ARKW fund but still holds $139.7 million of the spot Bitcoin ETF.

The Block2024/09/24 09:22