SEBA Bank and DASL partnership for asset securitization

15 Jul, 2020

SEBA Bank and Digital Asset Shared Ledger (DASL) announced their new partnership for asset securitization services on a public Corda network. The asset securitization will become possible through DASL’s network.

SEBA Bank: Pioneer in financial industry

SEBA Bank, founded in 2018, is a licensed and supervised Swiss bank headquartered in Zug. It provides seamless, secure and easy-to-use services. Thus, it sits at the intersection between digital and traditional assets. SEBA clients have access to trade and management of digital assets as and conventional securities. The financial industry pioneer offers wide and vertically-integrated services with high security standards.

In addition to providing services to invest, safely store, trade and borrow against traditional and digital assets, in the future token issuance will be offered. Moreover, SEBA has a license from the Swiss Financial Market Supervisory Authority (FINMA). SEBA received its license in August 2019. This was the first time a regulatory authority like FINMA did so in case of a financial services provider dealing with digital assets. Now, SEBA Bank announced a partnership with OSL to offer asset securitization.

DASL: Infrastructure for capital markets

Digital Asset Shared Ledger (DASL) provides a robust, cost-effective and compliant infrastructure for digital capital markets. DASL is part of the product portfolio of LAB577. LAB577 is a software company that creates applications for the financial services industry with emerging technologies, such as Blockchain technology. Among its product portfolio, LAB577 offers LYRA and DASL as software solutions. LAB577 is in partnership with R3, Google, Trustology and DEON Digital.

The company, founded in 2018, headquarters in London. DASL offers digitized financial instruments related to assets like bonds, equities, funds and non-bankable assets. Further, it assists with the issuance of compliant native digital securities on Corda. Furthermore, DASL issuance services are regulatory compliant and come with a fully-automated digital lifecycle. Another attractive feature are the streamlined administration processes. In addition, settlement solutions are customizable, have a flexible workflow and can be integrated into existing fiat and digital asset networks. Moreover, DASL also offers reporting services for both financial and regulatory reporting. DASL tailors its services for investors, financial institutions, brokers and asset managers. This broad range of clients can access a global digital asset liquidity network through DASL services.

With DASL, clients have access to liquidity venues like exchanges, OTC desks, and marketplaces. Next to primary markets, DASL also offers access to secondary markets for asset classes that are difficult to trade. Thus, DASL helps unlock liquidity with its multi-venue marketplace.

One of the many aims of DASL and LAB577 is to provide new, cost-effective, innovative, tech-driven solutions to raise equity capital for SMEs. Furthermore, it reduces costs in regard to asset securitization. DASL also stands out because their services securely interoperate with other DLT networks, such as Ethereum and Bitcoin.

A partnership for asset securitization

As announced, the SEBA Bank and DASL partnership will allow asset securitization services on a public Corda Network. With this move SEBA Bank wants to increase the capabilities of institutional clients to issue and invest in digital securities that represent financial instruments. As Matthew Alexander, Head Tokenization at SEBA Bank, highlighted:

“Widespread adoption of Digital Assets and securities by institutions requires trusted venues for distribution and for secondary trading and liquidity. DASL provides SEBA with an immediate and secure platform for our Digital Securities product range. We look forward to combining our strengths with those of DASL to further enhance our client solutions and services.”

DASL seems a perfect fit as the company’s services encompass Distributed Ledger Technology (DLT)-enabled issuance, transfer, portfolio management, asset servicing, clearing and settlement. DASL has optimized its asset servicing at a lower total cost of ownership through the assets’ lifecycle. Richard Crook, DASL Founder, explained:

“We are delighted to partner with SEBA Bank and bring them onto the public Corda Network with DASL.  DASL provides an accelerator to the digital capital markets for SEBA’s institutional clients.”

DASL’s experience in building critical infrastructure for financial institutions makes the partnership for SEBA very attractive. Partnering with DASL, allows SEBA Bank to offer primary asset tokenization and distribution. This new service will complement SEBA’s custody, asset management and trading products.

For the asset securitization, SEBA will create wallets to onboard custody customer, issue digital securities and distribute them to wealth managers and other investor networks.

The announced partnership brings future product generations and new forms of liquidity creation.

Source: Blockchain News


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