The proof of concept uses smart contracts from Digital Asset and DLT from VMware.
A Cayman Islands company made unregistered sales of $30m of securities using smart contracts.
Synapse uses DAML smart contracts to help institutions participating in Northbound Stock Connect.
HKEX Synapse has been developed with DTCC and Digital Asset to automate settlement for Stock Connect.
There are new legal issues for uncertificated securities, particularly with permissionless DLT systems.
Use of the Common Domain Model will increase standardization and operational efficiency.
Cryptoassets are tradable property and smart contracts are enforceable agreements under English law.
It is time to pivot industry efforts further up the blockchain stack.
The custodian's private equity blockchain is the first to use the new capability.