CandleFocus Deutsche Bank Unveils Project DAMA 2 at Singapore FinTech Festival 2024
2024-11-07
Author: Content Editor
Deutsche Bank, along with Memento Blockchain, Interop Labs, and Axelar, has made key updates on Project DAMA 2 at the Singapore FinTech Festival 2024. Project DAMA 2 is part of the Monetary Authority of Singapore’s Project Guardian initiative and explores the potential of blockchain in the financial space. The project focuses on tokenized assets and multichain interoperability in asset servicing. The Memento ZKchain, developed by Memento Blockchain and connected with Axelar, enhances security, scalability, and efficiency of digital assets. The blockchain features a KYC, AML, and sanctions check system, a paymaster functionality for gas fees, and a proprietary block explorer. Interop Labs and the Axelar network provide interoperability, allowing the network to connect with over 69 other blockchains. The testnet supports real-life fund management situations and aims to achieve real-time finality of transactions. The team is now seeking feedback from the financial industry and plans to publish a white paper by 2025.
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