Goldman Sachs Builds Token Platform with Digital Asset

Goldman Sachs Builds Token Platform with Digital Asset

Digital Asset, a leading software and services provider helping enterprises build economic value through interconnected networks, announced that Goldman Sachs will use Daml, Digital Asset’s core technology, to develop its end-to-end tokenized asset infrastructure supporting the end-to-end digital life cycle across multiple asset classes on permissioned and public blockchains.

“Globally, regulated capital markets have been on a multi-decade journey to full digitization,” said Eric Saraniecki, Co-Founder and Head of Strategic Initiatives at Digital Asset. “Tokenization done right offers a dramatic step change in capabilities and operational efficiency. Daml-based tokenization platforms can provide the capability to capture the full complexity of rights, obligations, and cash flows throughout the life cycles 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. We are thrilled that Goldman Sachs has selected Daml to explore the full potential of tokenization in its new multi-asset platform.”

“We are very excited to work with Digital Asset,” said Mathew McDermott, Managing Director, Global Head of Digital Assets at Goldman Sachs. “As we continue to build out our tokenization 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 tokenized traditional assets, and interoperable across multiple blockchains. It is critical to create distributed networks and digitization workflows across financial institutions and clients, interconnecting traditional and new market infrastructure. Daml-driven solutions, selected by leading market operators, could be an accelerator for us to achieve this.”

Daml is a platform for building multi-party applications that run seamlessly across new technologies and legacy infrastructure. It is the first system to fulfill the key requirements of a network-of-networks for global commerce. Daml solutions have been selected for production rollout at several of the world’s top exchanges, as well as powering the daily processing of around $35B in repo transactions.

Source: Digital Asset

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