{"id":78388,"date":"2025-01-09T10:27:11","date_gmt":"2025-01-09T10:27:11","guid":{"rendered":"https:\/\/www.zeeve.io\/blog\/"},"modified":"2025-01-09T15:04:27","modified_gmt":"2025-01-09T15:04:27","slug":"deutsche-bank-enters-l2-with-zksync-is-your-institution-ready-yet","status":"publish","type":"post","link":"https:\/\/www.zeeve.io\/blog\/deutsche-bank-enters-l2-with-zksync-is-your-institution-ready-yet","title":{"rendered":"Deutsche Bank Enters L2 with ZKsync\u2014 Is Your Institution Ready Yet?"},"content":{"rendered":"
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Deutsche Bank has captured immense attention with its recent announcement to launch a ZKsync-based L2 to advance its capabilities, streamline end-to-end operations, and tackle compliance hurdles while also enhancing its efficiency by a notable margin. This L2 chain is a part of Dama 2, which is a multi-chain initiative to support seamless asset tokenization for 24+ leading financial institutions. <\/p>\n\n\n\n

As we can see, all the speculations related to growth of independent Layer2s are coming true. That\u2019s because the use of blockchain<\/a> has grown from $4.61B<\/a> in 2023 to $7.12B<\/a> in 2024. Bigger names like Goldman Sachs, Circle, J.P. Morgan, and Swedish Central Bank have already adopted blockchain for their business, and now Deutsche Bank has sparked the L2 adoption with its decision.<\/p>\n\n\n\n

Layer2 rollups, highly adopted for their permissioned nature, endless flexibility, and dedicated throughput, have the potential to change the way banks and financial institutions work traditionally. Let\u2019s dive deeper and understand why Deutsche is building with ZKsync<\/a>, how its L2 will drive value, and what it means for other institutions. <\/p>\n\n\n\n

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A brief about Deutsche Bank and ZKsync<\/h2>\n\n\n\n

Deutsche Bank is a Germany-based multinational bank and a leader in offering financial services. The banking giant announced in December about building their own Layer2 chain using ZKsync technology<\/a>. As we talked about, building a Zk-powered chain is a part of Dama 2\u2013 a proof-of-concept project that Deutsche Bank and Memento blockchain together spearheaded in November 2024. DAMA (digital assets management access) powers Singapore Monetary Authority and a bunch of mainstream organizations to offer a secure, efficient, and flexible solution for tokenized (digital) fund management and investment services. Dama is essentially a global initiative to simplify asset tokenization<\/a> for various institutions. <\/p>\n\n\n\n

Memento works as the official technology partner for Deutsche Bank, which is launching its L2. In their report, Deutsche Bank said that fees for their services have been provided through Domani\u2013 a Memento-owned product designed to issue DEXTF tokens. Note that, Memento itself has built a general-purpose ZKsync<\/a> Layer2 Hyperchain in collaboration with Zeeve RaaS<\/a>. Here\u2019s a snapshot: <\/p>\n\n\n\n

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Zeeve 2024 Wrapped: \ud83c\udf81 @Memento_Bc<\/a> : Your Blockchain Autotune \ud83c\udfb6

This year, we composed a masterpiece with Memento, featuring:

\ud83d\udd39@zkSync<\/a> L2 Hyperchain: The High-Octane Engine of Scalability \u26a1\ufe0f
\ud83d\udd39@TraceHawk_io<\/a> by Zeeve: The Guardian of Trust: Your Secure Blockchain Audit \ud83d\udee1\ufe0f\u2026 pic.twitter.com\/s7RCdPwNyY<\/a><\/p>— Zeeve RaaS (@0xZeeve) December 30, 2024<\/a><\/blockquote>