SEBA will be working in close coordination with DASL for the issuance of tokenized securities over the Corda blockchain network for institutional clients.
Switzerland-based FINMA-licensed cryptocurrency bank SEBA announced its partnership with Corda-based Digital Asset Shared Ledger (DASL). DASL, the liquidity network for digital assets, will work with SEBA to allow institutional clients to issue and invest in Digital Securities.
SEBA said that its major focus is to reduce the gap between traditional and digital financial systems. This partnership will also allow SEBA Bank to offer asset securitization services on Corda’s public blockchain network. This new service of digital securities distribution will be in addition to SEBA’s own custodial and asset management service.
Besides, SEBA and DASL will also work together to provide critical infrastructure to financial institutions. This partnership will also open the doors for exciting product generation and liquidity creation with time. In the press release, 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.”
What DASL Can Offer SEBA
DASL’s Digital Securities offering on the Corda Network includes issuance, portfolio management, transfer, asset servicing as well as clearing and settlement. The best part is that all these offers happen using the Distributed Ledger Technology (DLT).
Furthermore, DASL also facilitates the secure atomic transfer of digital assets globally using the public Corda Network – a peer-to-peer network of DLT nodes. It does this by ensuring interoperability across multiple apps, systems, and processes. Richard Crook, Founder DASL said:
“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.”
Over the last two years, SEBA has made considerable progress in the crypto space. Besides, Switzerland’s crypto-friendly approach has also helped the bank to expand its products and services. Earlier this year, SEBA raised around $100 million funds six months after receiving the banking license in August 2019. The crypto bank has successfully managed to attract fresh capital over the last two years.
Read blockchain news daily on Coinspeaker.
next