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, Commerzbank and Deutsche Börse have a tokenized art and real estate project, what does it consist of?, Forex-News, Forex-News
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Commerzbank and Deutsche Börse have a tokenized art and real estate project, what does it consist of?

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, Commerzbank and Deutsche Börse have a tokenized art and real estate project, what does it consist of?, Forex-News, Forex-News


, Commerzbank and Deutsche Börse have a tokenized art and real estate project, what does it consist of?, Forex-News, Forex-News

The European market for digital assets is gradually expanding. This time, two highly regarded German financial institutions are working with fintech firm 360X to create a blockchain-based marketplace for real estate and art. These are Deutsche Börse and Commerzbank.

What is known so far?

Specifically, what these institutions seek is to build a digital asset market with the first reference transaction for each tokenized asset class. This project is planned for later this year, the companies said Thursday.

To achieve this, the partners combine their strengths: Deutsche Börse as an experienced market infrastructure operator. For its part, Commerzbank serves as a partner for tomorrow’s digital banking world. In turn, 360X’s experienced team of fintech founders will work together in the digital markets of the future to generate new revenue potential.

Germany is becoming a leader in the digital asset sector. In particular, they have their regulator BaFin inviting banks and startups to apply for special licenses to hold cryptocurrencies for interested clients. Both Deutsche Börse and Commerzbank have been working on the odd blockchain pilot project for the past few years. Blockchains and tokenization promise incalculable liquidity for assets like real estate and art, which is what these big financial firms are after here.

What have the Deutsche Börse and Commerzbank authorities said about this project?

“I am convinced that Deutsche Börse has to venture into new asset classes,” Theodor Weimer, CEO of Deutsche Börse AG, said in a statement. “In the future, we will see extensive tokenization and digitization of assets that are not currently tradable. 360X is the innovative new platform for mass market creation that we are building with our partners.

For its part, Commerzbank has many years of experience with distributed ledger technology. This in the words of CEO Manfred Knof, citing pilot transactions in the areas of payments, securities and trade finance. Also, some strategic partnerships with technology and Internet companies can be mentioned.

«We bring real assets to digital markets. With our investment and that of Deutsche Börse in 360X, we see the potential to actively shape one of these digital asset ecosystems of the future.Knof said in the statement.

With this project on the horizon, Germany confirms its position as one of the European countries with the greatest interest in the development of blockchain technology, beyond just commercial tokens.



, Commerzbank and Deutsche Börse have a tokenized art and real estate project, what does it consist of?, Forex-News, Forex-News

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, Commerzbank and Deutsche Börse have a tokenized art and real estate project, what does it consist of?, Forex-News, Forex-News

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