Summary of the Article
- The German generational bank DekaBank announced plans to release its blockchain-based tokenization platform in 2024.
- DekaBank is collaborating with Metaco, a digital asset management company, to launch Harmonize, the core blockchain-based platform providing institutional digital assets.
- The platform will focus on tokenizing bonds, stocks and other funds that will open a new token economy.
Introduction
Blockchain tokenization has been gaining more traction in the financial industry recently. It allows people to convert their ownership rights or assets into digital forms to secure them. The German generational bank DekaBank revealed plans to release its blockchain-based tokenization platform next year.
Partnership With Metaco
DekaBank is collaborating with Metaco, a digital asset management company, as it plans to launch the platform in 2024. After sealing their partnership deal, the two parties announced the move on January 31, 2023. The partnership will launch Harmonize, the core blockchain-based platform providing institutional digital assets.
Focus On Tokenizing Funds & Stocks
According to Andreas Sack, the digital asset custody executive at DekaBank, they plan to use this year to prepare their infrastructure for launching the platform. He noted that they are focusing on different areas such as tokenizing bonds, stocks and other funds which will open a new token economy. Additionally he suggested that while several blockchains such as Ethereum and Polygon are already undertaking similar process of tokenization but can’t be sure if existing networks will emerge as standard in their idea.
Planning To Avoid Crypto Assets Trading
Sack further revealed that DekaBank is only interested in regulated products as it is under German Electronic Securities Act regulation and thus planning not to trade crypto assets in collaboration with Metaco.
< h2 >Conclusion
In conclusion , DekaBank is taking its management solution to a different level by including tokenized assets on several blockchains with an aim of creating a new token economy . They plan on launching this infrastructure in 2024 after preparing for it this year and conducting first test transaction of it next year .