Deutsche Bank to use Blockchain Technology to Tackle Margin Compression

IconCryptoNewsTerminal Staff29 May, 2024

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Deutsche Bank to use Blockchain Technology to Tackle Margin Compression

Deutsche Bank, Germany's largest commercial bank, has begun deploying blockchain technology as a potential solution to the margin compression issue faced by the financial services industry in recent years. "We believe that blockchain will play a very important role in making us more competitive," said Anand Rengarajan, Deutsche Bank's Global Head of Sales, to CryptoSlate. "Blockchain and smart contract-based solutions can drive efficiencies, reduce costs, shorten transaction times and minimize risks." Deutsche Bank is part of Project Guardian, a cross-industry collaboration with the Monetary Authority of Singapore, and as part of this, is piloting a new platform based on the Ethereum network. The platform is a new project designed to service tokenized funds.

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