Published Dec 24, 2024 · Bloomberg
Deutsche Bank develops Project Dama 2, a Layer 2 platform addressing regulatory challenges of public blockchains for financial institutions.
Deutsche Bank AG is working on a fix for the regulatory challenges financial institutions face when trying to use public blockchains, such as the risk of inadvertently transacting with criminals or sanctioned entities.
The bank in November unveiled a test version of Project Dama 2, an asset-servicing pilot. The platform includes a so-called Layer 2 — a tool that draws on public blockchains while offering cheaper and more efficient transactions.
BitGo and ZKsync are teaming up to offer banks a full-stack infrastructure for tokenized deposits, as financial institutions look to bring traditional money onto blockchain rails without stepping outside regulatory boundaries.
Five US regional banks are building the Cari Network on ZKsync — tokenized deposits with stablecoin-speed settlement, FDIC-insured and fully within the banking system.
