Goldman Sachs’ Tokenisation Platform Live

Goldman Sachs says that its digital asset platform GS DAP is now live – one year after the bank first engaged in the space. The platform is developed on Digital Asset’s Daml smart contract language and Canton, its privacy-enabled blockchain.

The banks says the platform can capture the full complexity of rights, obligations, and cash flows throughout the lifecycles of assets. It can also make the digital representation and workflow accessible and fully automatable across distributed interconnected ecosystems of participants.

Additionally, Digital Asset ensures that data is only shared with entitled stakeholders with its privacy protocols while supporting the scalability necessary to connect assets globally.

“Our goal from the outset has been to help our clients realize the benefits of end-to-end digital lifecycle processing across tokenised assets, digital currencies, and other financial instruments,” says Mathew McDermott, global head of digital assets at Goldman Sachs. “We are pleased to bring this Daml-based solution to market and continue to find efficiencies that will improve the velocity of transactions. For example, by reducing the typical bond issuance settlement time for the European Investment Bank from T+5 to T+0 at a speed of sub-60 seconds with cross-chain atomic Delivery versus Payment (DvP) settlement in this inaugural issuance, we show how transformative this technology can be to the financial markets.”

Yuval Rooz, co-founder and CEO at Digital Asset, adds, “The past few years have been transformational for blockchain ecosystems, with the technology’s ability to solve real problems for financial institutions being validated. Goldman Sachs has taken the right approach to tokenisation and the underlying blockchain technologies necessary to support this new market. As an early adopter of the technology, Goldman Sachs is paving the way for the future of financial services.”