Deutsche Bank has partnered with the Monetary Authority of Singapore's Project Guardian to test the implementation of asset tokenization.
The German bank will participate in the asset and wealth management workstream, focusing on an interoperable blockchain platform offering services for tokenized and digital funds, according to a statement released Tuesday.
The company's goal is to develop and recommend protocol standards and best practices.
Boon-Hiong Chan, Deutsche Bank's head of securities and technology advocacy in Asia-Pacific, will lead the bank's participation in Project Guardian.
Chan will collaborate with Web3's Memento Blockchain and Interop Labs, developer of the Web3 Axelar Network interoperability protocol.