Germany’s Largest Bank Creating Its Own Layer-2 Blockchain

Germany’s largest banking institution, Deutsche Bank, is reportedly developing its own layer-2 (L2) blockchain on Ethereum. It will reportedly use ZKsync technology to address compliance challenges associated with using public blockchains in regulated finance.

The proposed L2 is part of Project Dama 2 and aims to improve transaction efficiency and secure regulatory safeguards by seamlessly integrating with Ethereum.

INSTITUTIONAL BLOCKCHAIN WITH COMPLIANCE AT THE CORE

Deutsche Bank's Project Dama 2 leverages Ethereum Layer-2 to merge cost efficiency with regulatory oversight.

Key innovations include ZKsync for secure transactions and curated validators to eliminate risk from unknown… pic.twitter.com/yUVgVJ6S5V

— Crypto Town Hall (@Crypto_TownHall) December 18, 2024

Deutsche Bank’s Planned Layer-2 Is A Smaller Part Of Singapore’s Project Guardian

The Monetary Authority of Singapore’s Project Guardian is spearheading Project Dama 2 and aims to bring together 24 financial institutions to explore blockchain-based asset tokenization.

Deutsche Bank’s planned solution aims to use trusted validators while granting regulators special oversight to minimize risks such as interacting with sanctioned entities. The platform is being designed to adhere to blockchain transparency and financial compliance requirements.

Germany’s leading bank is taking the initiative in its push to use blockchain technology while addressing regulatory hurdles. This move could potentially sway other institutions to adopt similar forward-thinking crypto paths.

The bank hopes to launch the platform as a minimum viable product sometime in 2025. However, regulatory approval remains a crucial hurdle in determining the release of its L2 blockchain.

Germany’s Leading Bank Has Already Begun Its Journey Into Crypto With Recent Crypto.com Partnership

Exciting Banking Milestone 🔊

Deutsche Bank will provide corporate banking services for https://t.co/vCNztATkNg in Australia, Hong Kong and Singapore, with a view to extending support into Europe and the UK as the relationship progresses.

We’re proud to have the backing of one… pic.twitter.com/1BOQa4yE97

— Crypto.com (@cryptocom) December 10, 2024

Just over a week ago, on December 10, Deutsche Bank partnered with one of the leading crypto exchanges, Crypto.com. The partnership was made to provide corporate banking services across Asian-Pacific markets. It includes regions such as Singapore, Australia, and Hong Kong.

Deutsche Bank offers fiat-to-crypto exchange and cross-border trading services to crypto companies, among other banking services, as part of the deal. The bank has also hinted at further partnerships in the United Kingdom and other European countries.

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What Is Deutsche Bank’s Project Guardian?

🔎 INSIGHT: Tokenized assets could reach $16.1 trillion by 2030.

Project Guardian, led by Singapore's MAS and finance industry, explores asset tokenization potential. pic.twitter.com/aAHJjVFYMW

— Cointelegraph (@Cointelegraph) November 19, 2024

Project Guardian is a collaborative initiative led by the Monetary Authority of Singapore and brings multiple industries together through various pilot programs. The ultimate aim is to explore how tokenization and interoperable networks could establish the future of financial infrastructure.

As of today, there are currently 27 members of Project Guardian. Most notably, Citi Bank, Bank of New York Mellon, J.P Morgan, Fidelity, Standard Chartered, and Franklin Templeton.

BONUS: Wall Street Pepe (WEPE) Hits Monumental $30 Million In Presale Funding In Two Weeks!

Wall Street Pepe (WEPE) is off to a flying start with its ongoing presale, having hit $30 million in just over two weeks since it went live.

WEPE leverages the hype of the Pepe character with the ever-meme-able theme of the Wolf of Wall Street. This combination is playing a huge part in Wall Street Pepe’s early success, as it looks set to become the biggest presale of this year.

The project isn’t stopping at being just a meme coin, WEPE holders will have access to insider trading strategies, alpha calls and trading competitions with cash prizes.

Building a cult-like meme coin community with the above utility looks set to propel WEPE into becoming one of 2025’s standout picks.

Less than 12 hours remain before the Wall Street Pepe presale moves onto its next price stage. Therefore, once the timer expires, the current price of $0.0003648 will be gone forever.

You can stay up-to-date on all things WEPE by joining the project’s community on X.

Visit Wall Street Pepe

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Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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