Latest news with #SabihBehzad
Business Insider
a day ago
- Business
- Business Insider
Deutsche Bank (DB) Considers Launching Its Own Stablecoin
Deutsche Bank (DB), Germany's largest bank, is considering launching its own stablecoin and creating a tokenized deposit solution to improve payment systems, according to a Bloomberg report that was published on Friday. The move comes as stablecoins continue to gain momentum in the financial world. In fact, Europe already has a clear regulatory framework through its MiCa law, and U.S. lawmakers may pass new stablecoin legislation as early as next week. Confident Investing Starts Here: 'We are seeing growing momentum for stablecoins, especially with a supportive regulatory environment in the U.S.,' said Sabih Behzad, Deutsche Bank's head of digital assets and currencies transformation, in an interview with Bloomberg. He added that banks have many ways to get involved with stablecoins, ranging from serving as reserve managers to issuing their own coins, either independently or in partnerships with other banks. For context, stablecoins are a type of cryptocurrency that aims to maintain a stable value by being pegged to real-world assets, such as the U.S. dollar or gold. Tokenized deposits, meanwhile, are regular bank deposits that are recorded on a blockchain, which allows them to move faster in digital transactions. Deutsche Bank's interest in both tools highlights the growing interest from traditional banks in using blockchain technology to modernize payments. Is DB Stock a Good Buy? Turning to Wall Street, analysts have a Strong Buy consensus rating on DB stock based on nine Buys, one Hold, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average DB price target of $29.27 per share implies 4% upside potential.
Arabian Post
2 days ago
- Business
- Arabian Post
Deutsche Bank Charts Course Toward Digital Currency Integration
Deutsche Bank is actively assessing the viability of stablecoins and tokenized deposits, signalling a strategic shift towards digital finance. Sabih Behzad, the bank's Head of Digital Assets and Currencies Transformation, confirmed that the institution is considering issuing its own stablecoin or participating in a broader industry initiative. This exploration aligns with the bank's broader efforts to modernize its payment systems and embrace blockchain technology. Behzad noted the increasing momentum of stablecoins, particularly within regulatory environments that are becoming more supportive, especially in the United States. He outlined that banks have various options in engaging with the stablecoin industry, ranging from acting as reserve managers to issuing their own stablecoins, either independently or as part of a consortium. In addition to stablecoins, Deutsche Bank is delving into tokenized deposit solutions aimed at enhancing payment use cases. These solutions involve digitizing traditional bank deposits using blockchain technology, potentially streamlining transactions and reducing costs. The bank has already conducted experiments in this domain, collaborating with UBS to simulate tokenized deposit payments. These trials utilized the Bundesbank's Trigger Solution, enabling blockchain-based systems to link to the central bank's payment infrastructure, facilitating seamless interbank settlements. ADVERTISEMENT Deutsche Bank's initiatives are part of a broader industry trend toward embracing digital assets and blockchain technology. The bank is participating in various projects, including Project Agorá, which aims to improve cross-border payments using tokenized assets. These efforts reflect a growing recognition among financial institutions of the potential benefits of digital currencies and tokenization in enhancing efficiency and creating new business models. The bank's exploration of stablecoins and tokenized deposits also coincides with evolving regulatory landscapes. In the European Union, the Markets in Crypto-Assets regulation is shaping the framework for digital assets, while in the United States, proposed legislation like the STABLE Act and the GENIUS Act are focusing on transparency, fully backed reserves, and anti-money laundering compliance. These regulatory developments are influencing how banks approach digital currencies and related technologies. Behzad emphasized the importance of a comprehensive approach to digital asset integration, highlighting the need for robust infrastructure encompassing issuance, trading, settlement, and custody. He pointed out that while tokenization offers significant opportunities, successful adoption requires 24/7 operations and advanced risk management, leveraging programmability and composability for maximum potential.
Bloomberg
2 days ago
- Business
- Bloomberg
Deutsche Bank Is Exploring Stablecoins and Tokenized Deposits
By and Anna Irrera Save Deutsche Bank AG is examining stablecoins and different forms of tokenized deposits, as large financial institutions grow more confident expanding in the digital-asset sector. Germany's largest lender is evaluating stablecoin options, which could include issuing its own token or joining an industrywide initiative, Sabih Behzad, Deutsche Bank's head of digital assets and currencies transformation, said in an interview. The bank is also assessing whether to develop its own tokenized deposit solution for use in payments, he added.
