Deutsche Bank launches Layer2 blockchain network based on ZKsync technology

ChainCatcher news, according to Bloomberg, German financial giant Deutsche Bank is developing an Ethereum Layer 2 blockchain network based on ZKsync technology. The project aims to address the compliance challenges of public blockchains in regulated finance by improving transaction efficiency and enhancing regulatory compliance.

This development is part of the Project Guardian initiative promoted by the Monetary Authority of Singapore (MAS), and Deutsche Bank's L2 network is named Project Dama 2. The project brings together 24 financial institutions to explore the possibilities of tokenizing blockchain assets.