Skyhook Capital and DASL partner to incorporate digital securities in conventional e-wealth and digital banking channels
Skyhook Capital Pte Ltd (Skyhook), the Singapore headquartered fintech company focusing on the distribution of investment-grade digital assets to institutional and retail investors, has entered into a strategic partnership with Digital Asset Shared Ledger (DASL), a global digital asset liquidity network for financial institutions built on Corda.
Skyhook’s “Digital Assets Wealth Network” or Skyhook DAWN, is an industry-standard white-labelled SaaS platform enabling the issuance, distribution and custody of digital securities with direct integration to the e-wealth systems used by financial institutions. In doing so, Skyhook DAWN acts as a lynchpin allowing financial institutions to manage wealth portfolios that incorporate both conventional and digital securities for their high net worth and mass affluent customer segments.
DASL’s production-ready, robust, finance grade application facilitates the tokenisation of any type of underlying asset (ie commodities, property, art, equities) and issued as a digital bond, fund or structured product. DASL is built on the public Corda network,.
Lawrence Grinceri, CEO and Founder of Skyhook Capital, says: “Our collaboration with DASL significantly enhances the Skyhook DAWN™ offering by facilitating the tokenisation of any type of underlying asset to service the demand for digital securities by wealth service providers; Private and Consumer banks as well as Family Offices and Independent Financial Advisors.”
The demand for digital securities is expected to grow rapidly. The World Economic Forum forecasts that by 2027, 10 per cent of the world's GDP will be tokenised — with an estimated market capitalisation of USD24 trillion.
With the integration of “Distributed Ledger Technology” (DLT) transactions of securitised assets are settled instantly, removing friction and conferring greater liquidity. “Our solution partners include AG Delta a leading e-wealth platform and Propine a digital custody platform regulated by the Monetary Authority of Singapore, form part of an ecosystem that delivers seamless business integration of conventional and digital securities,” adds Grinceri.
Richard Crook, CEO of DASL, says: “This significant collaboration with Skyhook Capital will provide the global financial services industry with the first “total solution” for business integration of digital securities into conventional investment product distribution channels. We believe this will further accelerate the adoption of digital securities and deliver a smooth transition as the financial services industry moves over to DLT.
"We believe our partnership will further strengthen DASL and the Corda ecosystem in its support of the entire product lifecycle for digital securities.”