Capital markets News

Digital Asset combines smart contracts with matching engine to create exchange

digital asset exchange

Today Digital Asset, the company behind the DAML smart contract language, announced a partnership with digital asset exchange firm Exberry. Digital Asset provides a post trade settlement registry which can be combined with Israeli startup Exberry’s exchange technology and matching engine to create an end-to-end solution. Digital Asset also contributes a lot of credibility to the partnership with its experience developing the Australian Securites Exchange’s (ASX) post trade settlement platform, CHESS, which uses blockchain and DAML.

Numerous digital asset exchanges are being launched, and the combined technologies claim to provide a cloud based technology platform in a matter of days, bar the really tricky bit: getting regulatory approval.

With Digital Asset’s background, one might immediately think the solution is for equities, bonds or derivatives, but the platform aims to provide for any tokenized digital asset whether it’s for real estate, in-game assets, artwork or something else.

The solution leverages Digital Asset’s cloud based DAML-as-a-service platform, DABL, to enable the creation of assets or users as well as the settlement of trades.

“Together we will provide businesses with the flexibility to issue, trade, and settle any type of asset and asset pair, coupled with the added security to audit your exchange’s transactions with complete ledger immutability through the DABL interface,” said Magnus Almqvist, Head of Exchange Development at Exberry. “This is a one of a kind approach that allows clients to scale with ease from micro markets to large global installations and connect to a growing ecosystem of 3rd party APIs and services.” 

While the solution sounds interesting, numerous companies are launching exchange platforms, although many seem to roll their own technology. To name just a few platforms in progress, in the bond sector there is BOOSTRY in Japan backed by Nomura and SBI, LedgerEdge founded by the CEO of enterprise blockchain firm R3, not to mention Agora, Bond180 and Singapore-based BondEvalue which is now live. One of the highest profile securitization startups is the aptly named Securitze.

Exberry is part of Israeli venture accelerator OM2, which is also involved with other digital asset solutions, including Ownera.