Digital Asset Accelerates Asset Tokenization with Daml Finance
New tokenization toolkit, in production with financial leaders, sets the standard in transforming traditional financial assets into a digital ledger fast-tracking time-to-market
October 11, 2022
At Sibos, Digital Asset introduced Daml Finance, a significant addition to its smart contract platform, Daml, that accelerates the tokenization process. Daml Finance is a new, open source offering within Daml that provides users with a collection of purpose-built libraries to enable rapid development of enterprise-grade tokenization solutions.
Daml Finance will provide financial institutions with the tools to accelerate the innovation cycle, shorten time-to-market, and build with proven libraries purpose-built for financial workflows. The libraries can be used to create robust, extensible tokenization solutions across a variety of asset classes. Daml Finance is available via early access in Daml today, and it is already in use with a number of financial institutions and market infrastructures.
The release of Daml Finance follows the successful launch of Daml 2.0, an upgrade to the technology from earlier this year that introduced Canton, a privacy-enabled blockchain platform. Momentum has continued for capital markets participants to leverage Daml as the technology of choice for building www.digitalasset.com/daml-finance sophisticated blockchain applications that scale beyond proofs-of-concept to unlock new networks of value for leading financial institutions.
Daml Finance is one of several new features Digital Asset has been rolling out as part of its Daml 2.0/Canton strategy. These features are critical components as the company continues its efforts—in close collaboration with its customers and partners—to build the Global Economic Network, an emerging ecosystem of interconnected global networks, powered by Daml. By providing consistent and reusable asset definitions, Daml Finance, in particular, is a key enabler of a composable economic network.
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