Bosonic Unveils Digital Assets Clearing and Settlement Solution
Posted by Colin Lambert. Last updated: May 27, 2022
DeFi infrastructure provider Bosonic has announced the launch of Bosonic Enterprise Solutions, a clearing and settlement solution for digital assets that requires neither bilateral credit or a central counterparty.
The new service is based upon Bosonic’s Layer-2 blockchain solution designed to support payment versus payment (PvP) instantaneous clearing and settlement of digital assets and fiat currencies that already underpins the Bosonic Network.
The firm says the capability has been launched to meet the growing demand from a range of clients including regulated financial market infrastructure organisations and banks looking to launch digital asset capabilities, as well as newly-formed digital asset exchanges that need a post-trade clearing and settlement solution to eliminate counterparty credit and settlement risk.
The new service can be delivered using a Software-as-a-Service (SaaS) model or via a dedicated deployment model to suit the needs of clients that want to operate their own networks and market platforms. With the solution, clients of FMIs, banks or exchanges can maintain collateral in their own accounts at regulated, neutral custodians that use Bosonic’s technology to automate net settlement movements from trading.
“The demand for a service such as Bosonic Enterprise Solutions has been extraordinary, with the market this year heavily focused on developing the next generation of digital asset capabilities across a range of asset classes and use cases,” says Rosario Ingargiola, Bosonic CEO.
Jason Nabi, chief revenue officer at Bosonic, says, “The capital markets industry has been looking at blockchain technology since about 2015 to solve inefficiencies across post-trade. Bosonic Enterprise Solutions, incorporating the Bosonic Network’s proven technology, delivers a specifically designed clearing and settlement capability which provides a turnkey digital asset infrastructure platform that can be used by market operators to run their own trading venue or digital asset post-trade service.
“We believe all asset classes will be digital assets in the coming years, and the growth of this market and our respective business supporting the wider digital asset ecosystem will be significant,” he adds.