Memento Blockchain and Interop Labs provided important technical support in the Project DAMA 2 project, a multi-chain asset servicing pilot led by Deutsche Bank as part of the MAS (Monetary Authority of Singapore) Project Guardian program. The project aims to promote the development of digital asset management, fund distribution and service models through blockchain technology, including advanced technologies such as ZKsync Stack and Axelar Network.

Memento ZKchain: Leading Digital Innovation

The technical team of Memento Blockchain successfully developed a complete testnet of the Memento ZKchain public permissioned chain. The testnet is based on the ZKsync Stack and has achieved cross-chain interoperability with the Axelar network with the support of Matter Labs, and technical support is provided by Interop Labs.

The testnet uses zero-knowledge technology and has the following leading features:

Digital identity system based on Soulbound Token: A secure and tamper-proof identity verification system that facilitates compliance reviews, including KYC, Anti-Money Laundering (AML), sanctions checks, and investor eligibility testing.

Paymaster function:Simplifies the gas process through traditional payment channels while providing detailed payment records.

Customized block explorer:Designed to ensure on-chain transaction confidentiality and ensure full regulatory transparency.

Tokenized fund creation and issuance:Supports the creation and issuance of digital and traditional funds through the Domani Protocol dApp.

Modular smart contracts:On-chain data capture for fund management, ensuring fund management and asset custody security.

Cross-chain interoperability:Can seamlessly connect to other blockchains to improve capital efficiency.

This series of innovations makes Memento ZKchain a leader in blockchain financial solutions, using zero-knowledge technology to improve security, efficiency and scalability, laying the foundation for future financial infrastructure.

Axelar achieves multi-chain interoperability

Interop Labs uses its cross-chain technology to achieve full cross-chain interoperability of Memento ZKchain, and successfully connects to Avalanche Fuji and Stellar through the Axelar network. On the basis of the successful integration of 69 mainstream public chains, it has paved the way for the integration of more blockchains (such as EVM and non-EVM networks) in the future, enhancing the scalability and customization of financial applications.

Practical application of fund management

In the field of fund management, the project team is testing the following use cases:

Fund managers can issue and distribute tokenized funds on one or more blockchains to improve efficiency and flexibility.

Interoperability of digital assets and cash between EVM and non-EVM chains to ensure the security and authenticity of transactions.

Fast settlement, improved asset security and operational efficiency.

These application scenarios demonstrate the huge potential of blockchain technology in fund management, providing unprecedented security and convenience for managers, distributors and investors.

Towards Mainnet: Call for feedback from the financial industry

As the testnet verifies the feasibility of these solutions, the project team is actively exploring the next step towards mainnet deployment. This stage marks another major breakthrough in digital fund management and services, and the team also welcomes discussions related to the financial industry, especially on standardization and integration of projects such as MAS Global Layer 1.

Looking forward to industry opinions and feedback to promote the transition from testnet to mainnet.

Looking forward to the future

The team will showcase these technical achievements at the Singapore Fintech Festival and look forward to working with industry partners to promote the implementation of blockchain financial solutions. The project will also feature live demonstrations to showcase the technology’s potential in real-world applications.

In 2025, the team will release a white paper to drive broader industry discussion and implementation.

About Memento Blockchain

Memento Blockchain is a company dedicated to providing blockchain solutions for innovation in the financial industry. The company focuses on decentralized finance (DeFi), digital asset management, and blockchain infrastructure, and has long worked closely with financial institutions, enterprises, and developers to create customized blockchain products with high security, scalability, and flexibility. Memento Blockchain’s participation in Project DAMA, a winner of the Innovation Award, and the company’s collaborations with world-renowned institutions such as Deutsche Bank have further promoted the adoption of blockchain technology in a variety of application scenarios. For more information, please visit mementoblockchain.com.

About Interop Labs

Interop Labs is a leading blockchain interoperability technology company that is used across Web3 infrastructure to enable the massive scale of next-generation Internet applications to potentially reach billions of users. Interop Labs is the original developer of the Axelar Network. For more information, visit interoplabs.io.

About Axelar

Axelar is a Web3 platform focused on blockchain interoperability, providing an open technology architecture designed to connect a variety of blockchain networks. Companies such as Uniswap and Microsoft have adopted Axelar technology to build applications that can simultaneously serve multiple blockchain users, far more than existing mainstream Web3 applications. Axelar supports cross-chain smart contracts and provides an open, secure, and scalable solution. Supporters include Binance, Coinbase, Dragonfly, Galaxy, and Polychain. For more information, visit axelar.network.

About Deutsche Bank

Deutsche Bank is a global financial institution that provides commercial and investment banking, retail banking, transaction banking, and asset and wealth management services. Clients include companies, governments, institutional investors, small and medium-sized enterprises and individuals. As the largest bank in Germany, Deutsche Bank occupies an important position in the European market and has extensive influence in the Americas and Asia-Pacific regions.

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