Deutsche Bank Turns to Layer 2 for Compliant Tokenization of Assets

Deutsche Bank, Europe's ninth-largest bank by assets, is testing a Layer 2 blockchain to overcome the obstacles financial institutions face in using public blockchains to tokenize real-world assets. Project Dama 2 uses a Layer 2 based on ZKsync technology, Bloomberg News reported . It will be built on top of the Ethereum blockchain to provide faster and cheaper transactions, and especially tokenization use cases. Dama 2 is being run under the auspices of the Monetary Authority of Singapore, which is working with 24 large financial institutions to test ways of tokenizing payments and real-world assets such as stocks and bonds. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io