BCB Group, as noted offers a diverse range of products for the financial services value chain, which includes business accounts, onboarding, and payment services as well as OTC trading.
With its services made available to satisfy the needs of institutional clients, the cryptocurrency broker announced it is now live with DASL, a Digital Asset Shared Ledger.
Developed by LAB577, a software company, the DASL is based on the underlying universal network, “Corda Network,” and will enable financial institutions to re-invent products using digital assets from primary issuance and secondary trading.
Also, it is aimed at mitigating business risks involved in the financial institutions, when handling digital assets, including cryptocurrencies. The network will enable interoperability between nodes across separate business networks, applications, and processes.
This third wave blockchain technology has now integrated the Ethereum network with Corda Network which will allow ETH and ERC-20 tokens trading on Corda Network.
Commenting on the development, the CEO at BCB Group, Oliver von Landsberg-Sadie said:
One of the greatest barriers to entry for financial institutions in digital asset markets is the uncertainty stemming from settlement and security risks.
Implementing the LAB577’s technology, the broker says it supports their mission to become a market-leading provider of liquidity, trade execution, pricing, transparency and control across the trade cycle.
“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,” he added.
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