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Trial of tokenized investment platform completed by Deutsche Bank

Deutsche Bank Singapore and Memento Blockchain have successfully completed the proof-of-concept phase of Project DAMA, designed to facilitate the management of digital funds investing in tokenized securities.

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Deutsche Bank Singapore and Memento Blockchain have successfully completed the proof-of-concept phase of Project DAMA, designed to facilitate the management of digital funds investing in tokenized securities.

Per the report, asset managers were able to create a digital asset fund with its own soulbound token and launch a direct fiat-to-digital on-ramp for users. Institutional investors could then subscribe to the fund through the direct minting of tokens, via a decentralized exchange aggregator or through a built-in marketplace.

As the first step, Deutsche Bank and Memento Blockchain created a decentralized finance platform on Ethereum and a unique, non-transferable soulbound token. Using the SBT, platform developers could then verify the identity of the wallet owner and grant them access to investment opportunities without requiring their personal information each time. Meanwhile, a trust anchor keeps Know Your Customer checks and accompanying documents off-chain. The SBT could also be used to restrict access to services or products that do not match the underlying users’ risk tolerance or experience.

To invest in a fund, the institutional investors holding the SBT would provide collateral in order to mint and receive tokenized shares of the underlying digital investment fund of choice. Tokenized shares can then be swapped via a built-in digital marketplace for digital assets, such as stablecoins. As for asset managers, they can create tokenized funds using one-window on Ethereum testnets involving a variety of strategies, such as DeFi staking.

For asset security, Deutsche Bank and Memento Blockchain utilized MetaMask for Project DAMA. MetaMask is built into the platform as the digital wallet of the partners’ choice for facilitating the transfer of digital assets. Institutional investors would need to hold both an SBT in their MetaMask wallet and KYC in order to access the platform’s decentralized applications. For the next steps, Deustche Bank said it was exploring the use of Project DAMA in Singapore, where there are currently 1,100 registered fund managers with a combined total of $3.36 trillion in assets under management.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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