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November 03, 2021
US reporter Carmella Haswell
Goldman Sachs will use Digital Asset’s core technology Daml to develop its end-to-end tokenized asset infrastructure and support the end-to-end digital lifecycle across multiple asset classes on approved and public blockchains.
Daml is a platform for building multi-party applications that run on top of new technologies and legacy infrastructures. Digital Asset, a software and service provider, says it is the first system to meet the key needs of a network of networks for global commerce.
The technology has been selected for production launch on several exchanges around the world and enables approximately $ 35 billion in repo transactions to be processed daily.
Eric Saraniecki, Co-Founder and Head of Strategic Initiatives at Digital Asset, says: “Daml-based tokenization platforms can offer the ability to capture the full complexity of rights, obligations and cash flows throughout the life cycle of complex regulated assets on the assets, and they can digitally capture them Make presentation and this workflow accessible and fully automatable via distributed, interconnected ecosystems of participants. »
Mathew McDermott, Managing Director, Global Head of Digital Assets at Goldman Sachs, also commented on the announcement: « As we continue to expand our tokenization capabilities, we needed solutions that quickly address the full complexity and diversity of assets to the core of our digital native or digital business tokenized traditional assets and interoperable across multiple blockchains.
“It is crucial to create distributed networks and digitization workflows across financial institutions and customers and to connect traditional and new market infrastructures. Daml-driven solutions could be an accelerator for us to achieve this. «
Darren Crowther, General Manager, Broadridge Financial Solutions, speaks about becoming a qualified Securities Financing Transaction (SFT) applicant for the National Securities Clearing Corporation’s SFT clearing program
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