Bosonic, a US-based financial technology, has launched a new capability to enterprises for digital assets clearing and settlement.
Known as Bosonic Enterprise Solutions, the new offering is said to eliminate the dependency on bilateral credit or a central counterparty, said the decentralised financial market infrastructure (dFMI) company.
Bosonic Enterprise Solutions provides its Layer-2 blockchain solution, which is designed for supporting payment versus payment (PvP) instantaneous clearing and settlement of digital assets and fiat currencies that have been supporting its network.
According to the company, the new capability has been introduced to meet the increasing demand from a variety of clients. These include banks and regulated financial market infrastructure organisations that are planning to launch digital asset capabilities.
The new offering is also designed to help newly-established digital asset exchanges that require a post-trade clearing and settlement solution to remove counterparty credit and settlement risk.
Bosonic CEO Rosario Ingargiola said: “The demand for a service such as Bosonic Enterprise Solutions has been extraordinary, with the market this year heavily focused on developing the next generation of digital asset capabilities across a range of asset classes and use cases.”
The new enterprise solution can be delivered either with a Software-as-a-Service (SaaS) model or through an exclusive deployment model to suit the requirements of clients that plan to run their own networks and market platforms.
Bosonic said that by using Bosonic Enterprise Solutions, clients of FMIs, exchanges or banks can maintain collateral in their own accounts at regulated, neutral custodians, which use its technology for automating net settlement movements from trading.
Bosonic chief revenue officer Jason Nabi said: “The capital markets industry has been looking at blockchain technology since about 2015 to solve inefficiencies across post-trade.
“Bosonic Enterprise Solutions, incorporating the Bosonic Network’s proven technology, delivers a specifically designed clearing and settlement capability which provides a turnkey digital asset infrastructure platform that can be used by market operators to run their own trading venue or digital asset post-trade service.”
