9 hours ago
Deutsche Bank is studying stablecoins and tokenized deposits arsenic portion of its increasing integer assets strategy, joining different large banks exploring blockchain infrastructure for payments and settlement.
The slope is considering whether to contented its ain stablecoin oregon articulation a broader manufacture initiative, Bloomberg reported, citing Sabih Behzad, Deutsche Bank’s caput of integer assets and currencies transformation.
It’s besides weighing the improvement of a tokenized deposit strategy aimed astatine making payments much efficient, according to the report.
Major banks successful the U.S. are presently weighing the launch of a associated stablecoin successful a bid to fend disconnected contention from the cryptocurrency space. These reportedly see heavyweights like JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C) and Wells Fargo (WFC).
Regulatory clarity successful the European Union and pending stablecoin authorities successful the U.S. person helped accelerate stablecoin adoption. Behzad said banks person options that scope from acting arsenic reserve managers to launching their ain integer tokens.
Deutsche Bank has said successful a probe study that stablecoins are connected the verge of mainstream adoption arsenic crypto authorities advances nether the Donald Trump administration.
Germany’s largest lender has, meanwhile, invested successful cross-border payments steadfast Partior and joined Project Agorá, a cardinal bank-backed inaugural focused connected wholesale tokenized payments.
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