Enterprise software company Digital Asset has expanded its Daml smart-contract platform, launching Daml Finance.
This follows the launch of Daml 2.0 earlier this year, which included Canton, a privacy-enabled blockchain platform. Digital Asset ultimately aims to create an interconnected global economic network of interconnected networks, powered by Daml.
Daml Finance gives financial institutions access to purpose-built libraries, allowing them to develop enterprise-grade tokenisation solutions across several asset classes.
The open-source addition will also allow users to accelerate the innovation cycle and shorten time-to-market.
Eric Saraniecki, head of strategic initiatives at Digital Assets, says: “We are taking a different approach to tokenisation that uses smart contracts to model the entire lifecycle of the asset.
“Only Daml Finance can model complex use cases with full composability and settlement finality. Many other solutions only tokenise asset ownership, which is one part of the lifecycle process. With Daml Finance’s extensive asset modeling capabilities, market participants can fast-track development efforts, creating new revenue channels by getting these solutions to market faster.”
