BCB Group goes live with DASL 05 August 2019London Reporter: Jenna Lomax
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BCB Group has gone live with Digital Asset Shared Ledger (DASL), a Corda-based digital asset shared ledger for financial institutions, developed by LAB577.
DASL provides the platform for crypto-brokers to join and utilise Corda Network and allows financial institutions to re-invent their products and services using digital assets from primary issuance and secondary trading through to clearing and settlement.
Corda Network is an underlying universal network which enables interoperability between nodes
across separate business networks, applications and processes. It now allows Ethereum and ERC-20 tokens to be traded on Corda Network.
BCB Group offers a diverse range of products for the financial services value chain including
onboarding, business accounts, payment services and over-the-counter trading.
The group is the first to provide prime brokerage services for digital assets on Corda Network.
Oliver von Landsberg-Sadie, CEO at BCB Group, said: “One of the greatest barriers to entry for financial institutions in digital asset markets is the uncertainty stemming from settlement and security risks.”
He added: “We identified LAB577’s Corda-based DASL solution as the most robust and credible way forward for trading and payments that not only mitigates those risks but also provides a scalable framework for the much more sophisticated financial instruments which lie ahead.”
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