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Deutsche bank (dbk) and memento blockchain have successfully completed a proof of concept called project dama (access to digital asset management) to provide a more efficient solution, secure, and a flexible solution for managing digital funds and the investment department.
Deutsche stated in a report released on Tuesday that the project aims to tackle the challenges related to the launch and access to digital funds. "This proof of concept also got the Financial Sector Technology and Innovation Monetary Authority (fsti) proof of concept (poc) from Singapore on August 5, 2022," the bank said.
The German bank stated in its report that the charges for the service were provided by domani, a memento blockchain product, which issues dextf chips. These chips have an existing market cap of $12 million as of Tuesday.
Deutsche stated that the currently established process of launching or accessing cryptocurrency funds is not just time-consuming.
Cost and risk, which, apart from the best-equipped players, would discourage most asset managers and institutional investors from entering the market.
Deutsche said the current established process of launching or accessing cryptocurrency funds was not only timeconsuming.
