DASL by LAB577 Provides Go-To-Market Technology Solution for Digital Securities Exchanges

DASL by LAB577 Provides Go-To-Market Technology
Solution for Digital Securities Exchanges

ABE becomes the first exchange to enter into an agreement with LAB577 allowing them to build out and implement a Corda-based DLT ledger powered by DASL

London, 28 January 2021

LAB577, an established software firm at the nexus of emerging technology and financial services, has today announced that ABE.io has signed a multi-year deal to build-out and implement a Corda-based distributed ledger (DLT) powered by DASL for their global marketplace exchange.

ABE.io joins a growing number of companies focused on digital assets, including BCB Group, Ivno, Skyhook and SEBA Bank who have all signed up to utilize DASL’s out-of-the-box, production-ready, robust, finance grade application for asset tokenization. DASL is a complete, hosted technology solution for digital assets, built on Corda and uniquely designed to be interoperable with other DLTs to allow for consolidation of technology over time.

By implementing DASL, ABE.io will be able to deliver on their vision of revamping capital markets infrastructure to improve transparency, optimize trust, reduce associated fees and, globalize access to capital markets.

Launching in 2021, ABE.io enables issuers to register a financial instrument once and trade it around the world. ABE also enables access to the capital markets regular investors, not just accredited or institutional investors, across four different continents 24/7.

John Pigott, CEO founder of ABE said: “ABE’s adaptable-auction market structure optimizes trust. ABE enables multiple forms of a financial instrument to trade simultaneously, so that a stock, its ADR, GDR, and tokenized form all clear at the same price.”

LAB577, an established software firm at the nexus of emerging technology and financial services, is helping ABE start with a compliant, foundational premise by using the Corda DLT in a private node network.

In the ABE.io exchange, powered by DASL, significant developments to optimize post-trade workflow processes have been implemented to ensure the buyer and seller can verify the trading request. DASL helps to verify that the exchange hasn’t falsified the orders verifying requests contain references to signed payloads. Further enhanced functionality is being built out to escrow assets during the order placement and matching process.

“We’re excited to partner with LAB577, they understand the ethical constraints of capital markets as well as the traditional capital markets structure while also understanding the technology and the value set. They are good trading technologists, building the right technology on top of the right blockchain,” added Pigott.

Richard Crook CEO & Founder at LAB577 said: “We’re really enjoying working closely with the ABE.io team. We share their vision for how capital markets should work and how DLT can be applied to trading technology. We look forward to building out the basic infrastructure in the direction of the capital markets.”


Background image for Skyhook Capital and DASL partnership

Skyhook Capital and DASL Partner To Incorporate Digital Securities Into Conventional E-wealth and Digital Banking Channels

Skyhook Capital and DASL Partner To Incorporate Digital Securities Into Conventional E-wealth and Digital Banking Channels

Reconfiguring the buy-side for the digital world

Singapore, 2 November 2020

Skyhook Capital Pte Ltd (Skyhook), the Singapore headquartered fintech company focusing on the distribution of investment-grade digital assets to institutional and retail investors, has entered into a strategic partnership with Digital Asset Shared Ledger (DASL), the leading global digital asset liquidity network for financial institutions built on Corda.

Skyhook’s “Digital Assets Wealth Network” or Skyhook DAWN™, is an industry-standard white-labelled SaaS platform enabling the issuance, distribution and custody of digital securities with direct integration to the e-wealth systems used by financial institutions. In doing so, Skyhook DAWN™ acts as a linchpin allowing financial institutions to manage wealth portfolios that incorporate both conventional and digital securities for their high net worth and mass affluent customer segments.

DASL’s production-ready, robust, finance grade application facilitates the tokenization of any type of underlying asset (i.e commodities, property, art, equities) and issued as a digital bond, fund or structured product. DASL is built on the public Corda network, the best place to engage in regulated digital capital markets activity.

Lawrence Grinceri, CEO and Founder of Skyhook Capital said: “Our collaboration with DASL significantly enhances the Skyhook DAWN™ offering by facilitating the tokenization of any type of underlying asset to service the demand for digital securities by wealth service providers; Private and Consumer banks as well as Family Offices and Independent Financial Advisors.”

The demand for digital securities is expected to grow rapidly. The World Economic Forum forecasts that by 2027, 10% of the world’s GDP will be tokenized — with an estimated market capitalization of US$24 trillion.

With the integration of “Distributed Ledger Technology” (DLT) transactions of securitized assets are settled instantly, removing friction and conferring greater liquidity. “Our solution partners include AG Delta a leading e-wealth platform and Propine a digital custody platform regulated by the Monetary Authority of Singapore, form part of an ecosystem that delivers seamless business integration of conventional and digital securities,” added Grinceri.

Richard Crook, CEO of DASL said: “This significant collaboration with Skyhook Capital will provide the global financial services industry with the first “total solution” for business integration of digital securities into conventional investment product distribution channels. We believe this will further accelerate the adoption of digital securities and deliver a smooth transition as the financial services industry moves over to DLT.

We believe our partnership will further strengthen DASL and the Corda ecosystem in its support of the entire product lifecycle for digital securities.”

About Skyhook Capital

Skyhook Capital Pte. Ltd. has launched the first marketplace for digital assets with full integration into conventional investment product distribution networks. Skyhook’s Digital Assets Wealth Network (Skyhook DAWN™) provides a single connection point on the cloud for conventional e-wealth and digital banking channels to access digital securities and services over distributed ledger technology. As a gateway for digital securities distribution and management, Skyhook DAWN™ incorporates a proven architecture with a universal API to support business integration into multiple distribution channels and the solution components to source, transact and settle digital and conventional securities. For more information, please visit: https://skyhookcapital.io/

About DASL

DASL is a flexible, advanced technology solution to enable the future of financial services. It offers a production-ready, robust, finance grade application which can be used for tokenization of any type of underlying asset – a complete, hosted solution for issuance, portfolio management, trading and settlement of digital securities. The DASL liquidity network for digital assets creates increased access to debt, equity, and alternative asset classes. By enabling fractional ownership, democratization of new asset classes can now occur. For more information please visit Powered by DASL


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Ivno & LAB577 partnership accelerates Ivno's market deployment utilising DASL

Ivno & LAB577 partnership accelerates Ivno's market deployment utilising DASL

London, 15 September 2020

Today Ivno have announced a strategic partnership with LAB577 to utilise their Digital Asset Shared Ledger (DASL) technology solution and “Node as a Service (NaaS)” hosting capability. Ivno is driving the transformation of financial services with real-time, 24 x 7, instantly reconciled settlement. The platform allows clients to unlock significant cost reductions, reduce counterparty risk, and improve liquidity management.

Ivno’s Mission

Ivno’s mission is already well underway within financial markets, having successfully deployed Corda’s first global token trial with 28 organisations last year and recently debuting their MINT (Multinational Intragroup Transfer) platform with a number of
treasury organisations.

Partnership

DASL, LAB577’s flagship software comprises innovative technology and the team’s extensive software delivery capabilities gained from significant experience working within financial services technology. This partnership sees Ivno using DASL & NaaS to accelerate and augment their deployment and software management options, for financial services and corporate clients. Ivno have selected LAB577 as a strategic partner to support the firm’s mission to revolutionise settlements using Distributed Ledger Technology (DLT).

Ivno provides real-time, secure, instant movement of value with certainty of funds transfer for financial markets, based on immobilised collateral with proven legal enforceability. The Ivno solution also delivers a universal C&CE & HQLA level 1 digital collateral solution using DLT.

Integration of the DASL software with Ivno’s core components is already underway, accelerating additional feature deployment to enrich the Ivno service offering, such as facilitating atomic swaps for native Corda assets between multiple blockchain platforms.

Quote – Farzad Pezeshkpour, DASL Lead Engineer

“The LAB577 team are delighted that Ivno have recognised the value of using DASL and NaaS for their digital settlement solution. DASL is well placed to support Ivno’s vision of improving transparency and efficiency for banks, asset managers, brokers and corporate clients.”

Digital Asset Shared Ledger (DASL)

Digital Asset Shared Ledger (DASL) by LAB577, provides a business network offering for participants; delivering access to digital assets utilising the public Corda Network. It provides an enterprise and regulatory ready, finance grade solution to allow the transformation of traditional financial instruments into digital assets.

As DLT continues to mature and offer significant efficiencies to capital markets, and financial transactions, integration is essential. The speed and ease of deployment for financial services clients is crucial for the growth of the Platform.

Drawing on LAB577’s experience integrating mission critical infrastructure for financial institutions, the DASL infrastructure will have a significant impact on financial markets going forward. Ivno selected the LAB577 team and product based on the functionality offered and the skill-sets provided by the talented LAB577 team, with a wealth of experience building complex systems and platform architecture for banks.

DASL is used as the go-to-market solution to support primary issuance, secondary trading and post-trade settlement on the public Corda network. This partnership will create new revenue opportunities, unlocking cost savings and end user innovation.

Quote – Ryan Gledhill, Ivno CTO

“Ivno’s target market includes some of the largest Financial Institutions on the planet, who expect us to continue our mission to improve and innovate upon the status quo.

My experience with numerous DLT platforms & software providers enabled me to immediately see the value of LAB577 as a strategic partner, considering their wealth of knowledge in supporting mission critical solutions for financial institutions. This partnership will enhance our ability to deploy our reliable, production-ready & revolutionary software suite throughout capital markets and beyond.”

Footnotes

1. Independent advice should be sought on interpretation of cash and cash equivalent status under US GAAP (FASB ASC paragraph 305-10-20), IFRS9 (IAS7) and UK GAAP (FRS102)

2. Independent advice should be sought on interpretation of Directive 2013/36 EU and Regulation (EU) No. 575/2013


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BCB Group pioneers BLINC, the first network to enable free, instant settlement across multiple digital and fiat currencies

BCB Group pioneers BLINC, the first network to enable free, instant settlement across multiple digital and fiat currencies

London, 27 July 2020

BCB Group, leading digital asset financial services group, today announced the launch of BLINC, one of the first real-time payments networks of its kind to allow free, real-time transactions across fiat and digital currencies. The world’s oldest active cryptocurrency exchange Bitstamp is set to become the first exchange to enable transactions on BLINC, the BCB Liquidity Interchange Network Consortium. This development builds upon accelerating client demand for BCB Group’s platform over the year to end June 2020, with average monthly payment volume growth of 24%.

The network aims to transform traditional payments infrastructure by providing a unified architecture capable of handling instant domestic and international fiat transactions, crypto transactions, cross-currency transactions, security tokens and smart contracts, all provided fee-free within the network.

Using BCB’s proprietary technology, BLINC enables participants to settle instantly in any of the currencies supported, free of charge. BLINC launches with GBP, EUR and CHF support, eliminating the need for conventional payment schemes such as SWIFT and SEPA for transfers between BLINC members. This ecosystem enables 24/7 immediate clearing, reduced operational and settlement risk, simplifies inter-counterparty-settlement reconciliation, has no cut-off times, and addresses scalability issues inherent to blockchain networks.

BLINC is also integrated with DASL, developed by LAB577, which is the leading global digital asset liquidity network for issuers, investors, financial institutions, brokers and administrators, built on Corda. The DASL integration paves the way for this network to expand beyond BCB as well as providing the necessary infrastructure for settling a broad variety of digital assets over the public Corda network.

BLINC is accessible to BCB Group’s business account clients, which currently include five of the world’s top exchanges and market makers, and over 200 digital asset funds, hedge funds, blockchain-based businesses and independent professional traders. Segregated digital asset wallets, client accounts and institutional rates on both FX and fiat-crypto conversion are also available to network participants.

Oliver von Landsberg Sadie, BCB Group’s Founder and CEO, commented, “One of the greatest features of the crypto age is the ability to build value without borders. BLINC bridges that feature into the fiat currency world in a highly scalable way. Among the first to benefit from this will be market makers working hard to keep markets efficient through exchanges like our launch partner Bitstamp by solving arbitrage gaps between exchanges faster than ever before. The benefits of efficient markets quickly ripple to the rest of the ecosystem.”

Chris Aruliah, VP of Banking relations, of Bitstamp added “BLINC is an appealing proposition for Bitstamp, as it enables us to offer our clients a frictionless mechanism to fund their trading accounts. The ability to move money instantly in the fast-moving crypto markets is crucial and gives our clients an edge when trading on the Bitstamp platform. We are excited to be working with BCB Group on the launch of BLINC which we believe brings substantial benefits for the entire market.”

BCB Group: Building on regulatory-first institutional principles

Responding to institutional demand for operational best practice in digital asset markets, BCB Group was created by established thought leaders in finance, regulation and technology. Founded in the UK and developed to encompass key relationships across global financial services communities, BCB Group is well positioned as one of the first multi-jurisdictional regulated cryptocurrency service firms. BCB Group’s executive team have worked for Barclays, Credit Suisse, Deutsche Bank, Investec, Lloyds Commercial Bank, Norton Rose Fulbright, FIS and Sun Life of Canada.

Aiming to provide end-to-end integrated infrastructure covering payments, trading and custody, BCB Group’s range of solutions has been developed to cater to the needs of exchanges, market makers, brokers, funds and cryptocurrency startups.

About BCB Group

BCB Group is Europe’s leading crypto-dedicated payment services provider, serving some of the industry’s largest clients including Bitstamp, Coinbase, Galaxy and Kraken. BCB Group provides payment services in 20+ currencies, FX, cryptocurrency liquidity and digital asset custody.

BCB Group comprises BCB Prime Services Ltd (UK), BCB Payments Ltd (UK), BCB Digital Ltd (UK) and BCB Prime Services (Switzerland) LLC. BCB Payments Ltd is regulated by the Financial Conduct Authority, no. 807377, under the Payment Services Regulations 2017 as an Authorised Payment Institution. BCB Prime Services (Switzerland) LLC, a company incorporated under the laws of the Swiss Confederation in the canton of Neuchâtel with business identification number CHE-415.135.958, is an SRO member of VQF, an officially recognized self-regulatory organization (SRO) according to the Swiss Anti-Money Laundering Act.

Disclaimer

The information contained in this press release is intended for use and publication by journalists and should not be relied upon by private investors or any other persons to make financial decisions. Furthermore, the material contained herein is for informational purposes only and should not be construed as an offer, solicitation of an offer, or an inducement to buy or sell cryptocurrencies or any equivalents either generally or in any jurisdiction where the offer or sale is not permitted. All of the views expressed about the markets, cryptocurrencies and stakeholders in this press comment accurately reflect the personal views of BCB Group. While opinions stated are honestly held, they are not guarantees and should not be relied on. The information or opinions provided should not be taken as specific advice on the merits of any investment decision. This press release may contain statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, new legislation and regulatory actions, competitive and general economic factors and conditions and the occurrence of unexpected events. Past performance in other related cryptocurrencies is not a viable indication of future performance with actual results possibly differing materially from those stated herein. Investments in cryptocurrencies are not currently regulated by the Financial Conduct Authority. Your capital is at risk when investing in cryptocurrencies.


SEBA and DASL partnership background image

SEBA Bank is the first digital bank offering asset securitization services on the public Corda Network using DASL

SEBA Bank is the first digital bank offering asset securitization services on the public Corda Network using DASL

15 July 2020

SEBA Bank, a FINMA licenced Swiss Bank providing a seamless, secure and easy-to-use bridge between digital and traditional assets, today announces that they will be partnering with Digital Asset Shared Ledger (DASL) – the liquidity network for digital assets. This partnership allows SEBA Bank to offer institutional clients the ability to issue and invest in Digital Securities representing financial instruments on the public Corda Network.

DASL’s compliant digital securities offering includes issuance, transfer, portfolio management, asset servicing and clearing and settlement enabled by cutting edge Distributed Ledger Technology. Optimized asset servicing leads to a lower total cost of ownership throughout the asset lifecycle. DASL facilitates the globally-secure atomic value transfer of digital assets across the public Corda Network—a peer-to-peer network of DLT nodes, enabling interoperability across multiple systems, apps, and processes.

SEBA Bank will offer primary asset tokenization and distribution using DASL, as a complement to SEBA’s Custody, Asset Management and Trading product.

SEBA will create a wallet for onboarded custody customers, issue digital securities and distribute them to wealth management and other investor networks. In partnering with DASL, SEBA draws on the team’s experience building mission critical infrastructure for financial institutions.

This partnership paves the way for further exciting product generation and liquidity creation over time, where DASL will support SEBA Bank’s strategy to be a partner to institutions.

Matthew Alexander, Head Tokenization at SEBA Bank, explains “Widespread adoption of Digital Assets and securities by institutions requires trusted venues for distribution and for secondary trading and liquidity. DASL provides SEBA with an immediate and secure platform for our Digital Securities product range. We look forward to combining our strengths with those of DASL to further enhance our client solutions and services.”

Quote – LAB577 CEO and Former Head of Emerging Technology at RBS, Richard Crook.

“We are delighted to partner with SEBA Bank and bring them onto the public Corda Network with DASL.DASL provides an accelerator to the digital capital markets for SEBA’s institutional clients.”


DASL Enables Trustology to become first cryptoasset wallet provider on Corda network

Trustology is first cryptoasset custody wallet 
provider to join Corda Network with LAB577’s DASL

Trustology is first cryptoasset custody wallet 
provider to join Corda Network with LAB577’s DASL

21 May 2020

Trustology, a London-based cryptoasset custody firm dedicated to enabling global crypto adoption, today announces that they will be partnering with Digital Asset Shared Ledger (DASL)—a platform developed by LAB577 to transform traditional financial instruments into digital assets. This partnership allows Trustology to join the Corda Network, making them the first cryptoasset custody wallet provider on the network.

The finance-grade, enterprise-ready, regulatory friendly DASL facilitates the globally-secure atomic value transfer of digital assets across the Corda Network—a peer-to-peer network of nodes, enabling interoperability across multiple systems, apps, and processes.

Using the open DASL solution on the Corda network, Trustology will be able to support fulfilling its mission to accelerate the crypto economy worldwide.

Trustology has developed TrustVault—a fast, user-friendly, and highly secure insured custodial wallet service, designed to address the security and ownership shortcomings of existing custody solutions as well as provide on-chain and on-exchange controls for managing and securing assets.

TrustVault provides an equal level of speed, flexibility, and access demanded of traditional assets and account services within conventional finance.

Speaking on the collaboration, Trustology CEO Alex Batlin remarked: “We need to do our part in building an ecosystem that is safer, faster and easier for both individual and institutional crypto adoption. Partnering to support infrastructure designs such as the Corda Network and its token issuance is a step in that direction because we remove barriers to purchase and offer a frictionless, secure experience to foster trust.”

As the first cryptoasset custody wallet provider on the Corda network, Trustology will be working on delivering a host of new benefits to clients. These include extending wallet compatibility to Corda-based tokens, providing reliable key management and secure custody services to holders of Corda assets.

To find out more, please visit: trustology.io

Quote – LAB577 CEO and Former Head of Emerging Technology at RBS, Richard Crook.

“LAB577 is delighted to partner with Trustology and bring them onto the Corda network using DASL. As a member of DASL, Trustology will be able to provide an even better service to their customers for key management and safe custody of digital assets,”