BNP Paribas Securities Services announced a partnership with Digital Asset focused on dApp


BNP Paribas Securities plans to enhance its presence in the DLT ecosystem. Announced a new partnership with Digital Asset focused on the design and development of real-time trading and settlement applications. The new dApps will be built using DAML smart contracts.

The new dApps will be used to connect users with some traditional markets and exchanges. They will gain real-time access to future DLT-based trading and settlement platforms that major exchanges such as the Australian Stock Exchange (ASX) and the Hong Kong Stock Exchange (HKEX) will launch soon.

Thanks to the decentralized nature of DLT-based applications, users in markets without DLT integration will also be available to access real-time workflows.

BNP plans to launch the first product of the recent partnership in 2021. It will be a smart choice service for companies. The DAML smart contract infrastructure will help corporate parties access real-time information and make decisions based on more reliable information.

Luc Renard, APAC Financial Intermediary Client Line Director and Digital Transformation for BNP Paribas Securities Services, said:

“As a leading provider of third-party custody and clearing solutions in Asia Pacific, BNP Paribas has an important role to play in ensuring that market participants can fully capitalize on the smart contract technology that underpins the latest innovations in clearing, trading and settlement. . We are excited to lay the foundation for our direct connectivity to ASX's next generation solution and the future phase of the HKEX platform with our first DAML-based solutions. We believe that DAML has the potential to emerge as a new standard for capital markets. international. As a platform independent smart contract language, it can be used by almost any trading and settlement platform that an exchange can select.

ASX and HKEX plan to provide more decentralized DLT-based services to clients. They will launch the CHESS + and Synapse services respectively, and BNP will be able to connect them using the new Ledger application programming interface for real-time information flows.

This connection makes it easy for corporate clients to access valuable data for post-trade activities. The new plans may pave the way for more interconnected solutions between blockchain and traditional markets.

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