Wealthtech

Skyhook Capital and DASL Partner to Incorporate Digital Securities Into E-Wealth and Digital Banking

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), the leading 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 linchpin 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 tokenization of any type of underlying asset (i.e commodities, property, art, equities) and issued as a digital bond, fund or structured product. DASL is built on the public Corda network, the best place to engage in regulated digital capital markets activity.

Lawrence Grinceri

Lawrence Grinceri, CEO and Founder of Skyhook Capital said:

“Our collaboration with DASL significantly enhances the Skyhook DAWN™ offering by facilitating the tokenization 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% of the world’s GDP will be tokenized — with an estimated market capitalization of US$24 trillion.

With the integration of “Distributed Ledger Technology” (DLT) transactions of securitized 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,”

added Grinceri.

Richard Crook

Richard Crook, CEO of DASL said:

“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.”

Featured image: Edited from Pexels