Today Deutsche Bank Singapore released a report of a proof of concept (PoC) with Memento Blockchain to provide a platform for asset managers to issue tokenized funds. Project DAMA (Digital Assets Management Access) includes some novel features, especially the ability to provide mass customization of the fund.
The solution was awarded a grant from the Monetary Authority of Singapore as part of its Financial Sector Technology and Innovation (FSTI) program.
DAMA does not aim to disintermediate the fund issuance or administration process. It still involves asset managers and transfer agents, with custodians taking on several roles, such as enabling digital cash.
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