We have partnered with UST, a leading digital transformation solutions company, to provide technical integration and tokenisation services to central and commercial banks and capital markets participants.
These services will help financial institutions adopt digital assets, as they increasingly realise the benefits of distributed ledger technologies. By issuing digital money and tokenising existing asset classes, they can achieve faster settlement times and access new markets and clients.
We will provide the foundational technology, using Overledger our low-code API-based blockchain gateway and tokenisation platform. Concurrently, UST will provide support through user interface design and integration via its London Innovation Lab sandbox. Together, we’ll support the issuance of central bank digital currencies, digital money in the form of commercial stablecoins, and digital securities onto major distributed ledger networks. By working with us, financial institutions can substantially shorten the lifecycle of their blockchain projects to just a few weeks.
Gilbert Verdian, our Founder and CEO, said: “UST has been at the forefront of blockchain services for almost a decade and their customer focus is aligned with our approach. The partnership will ensure that financial institutions can create new business opportunities and innovate with new DLT-embedded products and services to tokenise existing asset classes.”
Daniel Field, Global Head of Blockchain, UST, said, “we have partnered with Quant because of the flexibility and agility inherent in its technology. Built with financial institutions in mind, Quant’s Overledger API gateway is the perfect foundation to bring the benefits of blockchain to a multitude of businesses in this sector.”
The growth of digital assets in capital marketing and increasing number of CBDC pilots provide a backdrop to our partnership. The global tokenisation market was valued at $2 billion in 2021; compounding growth of 24 percent is expected over the next eight years, according to Grand View Research.
Additionally, more CBDC pilots are taking place worldwide that unlock new capabilities for governments, businesses, and consumers. Today, over 50 countries are in an advanced phase of exploration for CBDCs, and 19 of the G20 countries are considering a digital currency.