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 launch on multiple 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 across the lifecycle of complex regulated assets on the assets, and they can do so Make digital representation 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 comments on the announcement: “As we continue to expand our tokenization capabilities, we needed solutions that quickly bring 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. ”
