Goldman Sachs Taps Digital Asset for Tokenisation Platform
Posted by Colin Lambert. Last updated: November 3, 2021
Digital Asset says that Goldman Sachs will use Daml, its core technology, to develop its end-to-end tokenised asset infrastructure supporting the end-to-end digital life cycle across multiple asset classes on permissioned and public blockchains.
Daml is a platform for building multi-party applications that run across new technologies and legacy infrastructure. Digital Asset says 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, it adds, as well as powering the daily processing of around $35 billion in repo transactions.
“Globally, regulated capital markets have been on a multi-decade journey to full digitisation,” explains Eric Saraniecki, co-founder and head of strategic initiatives at Digital Asset. “Tokenisation done right offers a dramatic step change in capabilities and operational efficiency. Daml-based tokenisation 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.”
Mathew McDermott, managing director, global head of digital assets at Goldman Sachs, adds, “As we continue to build out our tokenisation 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 tokenised traditional assets, and be interoperable across multiple blockchains. It is critical to create distributed networks and digitisation 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.”