Deutsche Financial institution is taking its blockchain technique ahead by creating a Layer 2 community based mostly on ZKsync know-how known as DAMA 2 with the assistance of Axellar (AXL) developer Interop Labs.
The initiative, reported by Bloomberg, addresses compliance challenges in regulated finance by bettering transaction effectivity and strengthening regulatory oversight over public blockchains.
The mission is a part of Challenge Guardian, a blockchain-focused initiative spearheaded by the Financial Authority of Singapore (MAS). Deutsche Financial institution and Interop Labs, the unique developer of the Axelar Community, are collaborating on the initiative to supply safe cross-chain interoperability for monetary establishments.
DAMA 2 leverages Memento Blockchain’s ZKchain and Axelar’s cross-chain interoperability options constructed on the ZKsync know-how stack. The community goals to simplify the complexities related to multi-chain fund allocation and asset servicing for asset managers.
Axelar’s know-how performs a vital position in enabling decentralized and safe cross-chain operations, which is a key requirement for conventional monetary establishments like Deutsche Financial institution to successfully undertake blockchain know-how.
DAMA 2 is designed to bridge the hole between conventional monetary techniques and blockchain know-how by integrating off-chain belongings with the on-chain ecosystem.
*This isn’t funding recommendation.
