Goldman Sachs taps Digital Asset to build open platform for tokenised assets
03 November 2021 US
Image: onephoto/stock.adobe.com
Goldman Sachs will use Daml, Digital Asset’s core technology, to develop its end-to-end tokenised asset infrastructure, supporting the end-to-end digital lifecycle across multiple asset classes on permissioned and public blockchains.
Daml is a platform for building multi-party applications that run across new technologies and legacy infrastructure. Digital Asset, a software and service provider, says it is the first system to fulfill the key requirements of a network-of-networks for global commerce.
The technology has been selected for production rollout at several of the world’s exchanges, as well as powering the daily processing of around US$35 billion in repo transactions.
Eric Saraniecki, co-founder and head of strategic initiatives at Digital Asset, says: “Daml-based tokenisation platforms can provide the capability to capture the full complexity of rights, obligations, and cash flows throughout the lifecycles of complex regulated assets on the assets themselves, and they can make that digital representation and workflow accessible and fully automatable across distributed interconnected ecosystems of participants.”
Also commenting on the announcement, Mathew McDermott, managing director, global head of digital assets at Goldman Sachs, adds: “As we continue to build out our tokenisation capabilities, we needed solutions that could rapidly capture the full complexity and diversity of assets at the heart of our business for both digitally native or tokenised traditional assets, and interoperable across multiple blockchains.
“It is critical to create distributed networks and digitisation workflows across financial institutions and clients, interconnecting traditional and new market infrastructure. Daml-driven solutions could be an accelerator for us to achieve this.”
Daml is a platform for building multi-party applications that run across new technologies and legacy infrastructure. Digital Asset, a software and service provider, says it is the first system to fulfill the key requirements of a network-of-networks for global commerce.
The technology has been selected for production rollout at several of the world’s exchanges, as well as powering the daily processing of around US$35 billion in repo transactions.
Eric Saraniecki, co-founder and head of strategic initiatives at Digital Asset, says: “Daml-based tokenisation platforms can provide the capability to capture the full complexity of rights, obligations, and cash flows throughout the lifecycles of complex regulated assets on the assets themselves, and they can make that digital representation and workflow accessible and fully automatable across distributed interconnected ecosystems of participants.”
Also commenting on the announcement, Mathew McDermott, managing director, global head of digital assets at Goldman Sachs, adds: “As we continue to build out our tokenisation capabilities, we needed solutions that could rapidly capture the full complexity and diversity of assets at the heart of our business for both digitally native or tokenised traditional assets, and interoperable across multiple blockchains.
“It is critical to create distributed networks and digitisation workflows across financial institutions and clients, interconnecting traditional and new market infrastructure. Daml-driven solutions could be an accelerator for us to achieve this.”
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