• DekaBank, a German generational bank, is collaborating with Metaco to launch its blockchain-based tokenization platform Harmonize in 2024.
• The focus of the platform is on digital funds and stocks rather than regular crypto assets like Bitcoin.
• This new infrastructure will open up a new token economy by providing institutional digital assets such as bonds, stocks and other funds.
German Bank DekaBank Launches Blockchain Tokenization Platform
DekaBank, a German generational bank, has announced plans to release its blockchain-based tokenization platform Harmonize next year in collaboration with Metaco, a digital asset management company. This new infrastructure will provide institutional digital assets such as bonds, stocks and other funds while opening up a new token economy.
Focus on Funds and Stocks
The focus of this platform is not on regular crypto assets such as Bitcoin but on funds and stocks instead. Andreas Sack, the Digital Asset Custody Executive at DekaBank noted that they will use this year to prepare the infrastructure for launch in 2024 and that the first test transaction would be conducted in 2023.
Regulated Products
The executive also suggested that the bank was only interested in regulated products since it was under the German Electronic Securities Act regulation. Therefore, it would not be trading any crypto assets through its partnership with Metaco.
New Token Economy
Sack further mentioned that this new infrastructure is taking their management solution to a different level by including tokenized assets on several blockchains such as Ethereum and Polygon that are already undertaking tokenization process within the industry. He also noted that it remains unclear whether these existing networks will emerge as the standard for their idea or not.
Conclusion
Overall, DekaBank’s blockchain-based tokenization platform Harmonize is set to open up an entirely new world for institutional investors looking for secure investments via digital tokens when it launches next year in 2024 after proper preparations have been made this year itself including first test transactions happening in 2023 itself.