NEWS UPDATE
CRYPTO
Goldman Sachs to use Digital Asset ’ s technology to build open platform for tokenised assets
Agreement shows industry appetite for building end-to-end tokenisation capabilities and Digital Asset ’ s growing role in the capital markets as an underlying software provider .
Goldman Sachs will work with Digital Asset ’ s core technology to develop its tokenised asset infrastructure supporting the end-to-end digital life cycle across multiple asset classes on permissioned and public blockchains .
The investment bank will use Daml – Digital Asset ’ s platform for building multi-party applications that run across new technologies and legacy infrastructure – to move its tokenisation plans forward , a concept the financial services community sees as creating efficiencies and opportunities in the future for both traditional and illiquid assets .
The move for the investment banking giant is a major development in its digital assets business under the leadership of Mathew McDermott who joined just over a year ago with big ambitions .
“ As we continue to build out our tokenisation capabilities , we needed solutions that could rapidly capture the full complexity and diversity of assets at the heart of our business for both digitally native or tokenised traditional assets , that are interoperable across multiple blockchains ,” said McDermott .
“ It is critical to create distributed networks and digitisation workflows across financial institutions and clients , interconnecting traditional and new market infrastructure . Daml-driven solutions , selected by leading market operators , could be an accelerator for us to achieve this .”
REGULATION
European powers move to allow for postponement of buy-in regime
The implementation date of the controversial aspect of the settlement discipline will no longer be 1 February 2022 , with experts suggesting the delay could be two-to-three years .
The European Parliament and EU Council have agreed to make changes to the Central Securities Depositories Regulation ( CSDR ) in order to allow for the postponement of mandatory buy-ins included within the rules .
The buck now passes back to the European Securities and Markets Authority ( ESMA ) with experts predicting the delay could be between two and three years .
After months of anticipation following ESMA ’ s recommendation to the European Council to delay the controversial aspect of the Settlement Discipline Regime , the move came during a trilogue over the DLT Pilot Regime where CSDR had been listed under AOB for the agenda .
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