Cryptocurrencies
Deutsche Bank Tries to Tackle Compliance Hurdles for Public Blockchains
- Lender is building a so-called Layer 2 for a public network
- Product is part of MAS’s wider Project Guardian initiative
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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.