Together with digital asset startup Metaco, German bank DekaBank, which has been in business for 105 years, is now working on the necessary preparations to launch a tokenization platform that is powered by blockchain technology.

Sack has said that the infrastructure for the tokenization platform will be accessible in the not too distant future and that this will result in the introduction of the first minimum viable product in our cryptocurrency custody solution. Besides, he believes that this will happen very soon. He went on to explain that it is extremely conceivable that the tokenization platform will have its first set of test transactions this year. He said this year is the most likely time for this to happen.

In collaboration with the digital asset management platform Metaco Harmonize, the next blockchain platform to be used by DekaBank is now under development. The statement on the relationship of the financial institution with Metaco was made officially on January 31. The bank’s intention is to make use of Harmonize as the key platform for what it calls an “institutional digital asset offering.”

According to Sack, the upcoming sale will include the tokenization of assets such as stocks, bonds, and money to create a viable new token economy. This will make it possible to buy and sell tokens. Furthermore, he said that “Metaco is the key to this economy, as it is our main solution for managing tokenized assets on different blockchains.” The reason for this is because Metaco is the engine of this economy.

The CEO said that the tokenization process uses other blockchains, such as Ethereum and Polygon, among others. “It is not yet clear if there is a blockchain that will become the standard,” he stated. “Several blockchains may co-exist.” There is a possibility that more than one blockchain will emerge as an industry standard.