German bank DekaBank is planning to launch a blockchain-based tokenization platform in collaboration with the digital asset firm Metaco.
DekaBank targets the release of its blockchain platform sometime in 2024, while the infrastructure is expected to be ready in 2023.
DekaBank’s upcoming blockchain platform is developed in collaboration with the digital asset management system Metaco Harmonize. The bank officially announced a partnership with Metaco on Jan. 31, planning to deploy Harmonize as the core platform for an institutional digital asset offering.
According to reports, the upcoming offering will involve tokenizing assets like bonds, stocks and funds in order to enable a new token economy..
It was noted that plenty of blockchains are used for tokenization, including the Ethereum and Polygon networks. “It is not yet clear if there is one blockchain that will become the standard.
The new details about DekaBank’s upcoming digital asset platform come amid some major local banks moving into the cryptocurrency industry. DWS Group, the asset management arm of Deutsche Bank is reportedly seeking to invest in two German crypto companies, including Deutsche Digital Assets and Tradias.
