Deutsche Bank Developing Ethereum L2 Blockchain

Germany's largest bank, Deutsche Bank, is reportedly developing an Ethereum Layer 2 blockchain.

According to Bloomberg on the 17th (local time), Deutsche Bank is developing an Ethereum L2 blockchain based on ZKsync. If approved by regulators, Project Dama 2, which includes this blockchain, is expected to launch next year in a minimum viable product format.

Chan Bunyong, Head of Industry Application Innovation for Asia-Pacific at Deutsche Bank, stated, "We are working to address the issues financial institutions face when using public blockchains," adding, "We will grant regulators special oversight authority to address the risks of transactions with criminals or sanctioned entities."