Blockchain for finance pioneer Quant has partnered with digital transformation solutions company UST to provide technical integration and tokenisation services to central and commercial banks and capital markets participants. The partnership will release services which will reportedly help financial institutions adopt digital assets.

According to the official press release, financial institutions are increasingly realising the benefits of distributed ledger technologies and issuing digital money and tokenising existing asset classes will benefit them via greater settlement speed and access to new markets and clients. Quant will reportedly provide the foundational technology and UST will provide support through user interface design and integration via its Sandbox based in their London Innovation Lab. The partnership will seek to facilitate 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 the two firms, financial institutions can supposedly shorten the lifecycle of their blockchain projects to just a few weeks. According to the company, Quant utilises low-code APIs to issue reportedly highly secure and externally validated digital assets and tokenised currencies. Its Overledger gateway enables business flows used by banks for accounts, payments, and settlement, and can plug into exchanges and venues for asset management.

As stated by the press release, the global tokenisation market was valued at USD 2 billion in 2021; compounding growth of 24 percent is expected over the next eight years, according to Grand View Research. Additionally, CBDC pilots are now taking place worldwide, which will reportedly unlock new capabilities for governments, businesses, and consumers. Today, more than 50 countries are in an advanced phase of exploration for CBDCs, and 19 of the G20 countries are considering a digital currency, the press release concludes.

What do Quant and UST think of the partnership? According to the founder and CEO of Quant, UST has been at a blockchain services player for almost a decade and their customer focus is aligned with Quant’s approach. The partnership will enable financial institutions to create new business opportunities and innovate with new DLT-embedded products and services to tokenise existing asset classes. On the other hand, UST’s Global Head of Blockchain said that UST partnered with Quant due to the latter’s flexibility and agility inherent in its technology.

Built with financial institutions in mind, Quant's Overledger API gateway can work as the foundation to bring the benefits of blockchain to a multitude of businesses in this sector. .