Today BNP Paribas Securities Services (BPSS) said it’s working with Digital Asset (DA) to develop apps for the distributed ledger (DLT) platforms being developed by the Australian Securities Exchange (ASX) and Hong Kong Exchange (HKEX). These will use DA’s smart contract language DAML, known for its workflow prowess and compatibility with several blockchain ledgers and databases. The first solutions will be delivered in 2021.
The apps or dApps will be for real-time trade and settlement, and the bank says they will enable clients that haven’t integrated with the DLT platforms to nonetheless benefit from the real-time workflows offered by DAML.
“We believe that DAML has the potential to emerge as a new standard for international capital markets,” said Luc Renard of BPSS APAC. “As a platform-agnostic, smart contract language, it can be used by almost any trading and settlement platform an exchange might select.”
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