cryptojournalist
Germany’s Banking Giant Embraces Blockchain
Deutsche Bank is creating a layer-2 (L2) blockchain on Ethereum, leveraging ZKsync technology to address compliance challenges in regulated finance.
Project Dama 2: Blockchain Innovation
Part of “Project Dama 2,” this L2 blockchain integrates with Ethereum to improve transaction efficiency and ensure regulatory safeguards. It’s linked to Singapore’s Project Guardian, a collaboration of 24 financial institutions exploring blockchain-based asset tokenization.
Compliance with Trusted Validators
The platform uses trusted validators and provides regulators with oversight tools to mitigate risks like dealing with sanctioned entities. Deutsche Bank aims to align blockchain transparency with financial compliance, encouraging institutional adoption of decentralized networks.
Why Layer-2?
L2 blockchains run on top of primary networks like Ethereum, enabling faster, cheaper transactions. They also feature tools like “super admin rights,” allowing regulators to monitor and audit transactions.
Recent Partnerships
Deutsche Bank recently partnered with Crypto.com to offer corporate banking services in Asia-Pacific regions like Singapore and Australia. This includes fiat-to-crypto exchanges and cross-border trading, with plans to expand into Europe.
