Transcend Street Solutions, which operates a traditional collateral optimization solution widely used by financial institutions, has launched Transcend Digital, an extension of its existing platform. The goal is to enable institutions to optimize and manage their collateral positions in a single place using unified workflows, rather than requiring a separate system for tokenized collateral.
The DLT addition extends Transcend’s integrations with more than 45 CCPs and the five major tri-party agents. It follows an integration with the Canton Network announced earlier this year, with Transcend planning to offer a node-as-a-service and API solution enabling clients’ internal systems to communicate with the nodes. The relevance of the Canton Network is that the DTCC is launching tokenized securities in October and the Canton Network is one of only two blockchains available at launch, with the other the DTCC’s own AppChain.
Apart from the Canton integration and participation in its working groups, Transcend is also part of Ownera’s trials for tokenized money market funds. Ownera’s FinP2P routing system enables a more conventional type of cross chain routing, as opposed to bridges which have historically proven risky for blockchain interoperability. FinP2P also powers the sandbox for Global Digital Finance’s working group on tokenized money market fund collateral.
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