Bosonic Deploys Digital Asset Clearing and Settlement Capability
Decentralized Financial Market Infrastructure Bosonic has deployed clearing and settlement capability for digital assets, removing reliance on bilateral credit or a central counterparty.
Dubbed Bosonic Enterprise Solutions, the solution was designed to support instant payment-versus-payment (PvP) clearing and settlement of digital assets and fiat currencies already on the network.
The service was launched to meet growing customer demand, Bosonic said, including regulated financial market infrastructure organizations and banks exploring digital asset capabilities, as well as newly created digital asset exchanges that need a post-trade clearing and settlement solution.
Functionality can be delivered through a software-as-a-service model or through a dedicated deployment model. Clients of MFIs, banks or exchanges can hold collateral in their own accounts with neutral, regulated custodians that use Bosonic’s technology to automate the net settlement movements of the trade.
Rosario Ingargiola, CEO of Bosonic, said demand for the service 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 of use cases”.
Jason Nabi, chief revenue officer at Bosonic, added: “The capital markets industry has been looking at blockchain technology since around 2015 to solve inefficiencies in the aftermarket. Bosonic Enterprise Solutions offers a purpose-built clearing and settlement capability that provides a turnkey digital asset infrastructure platform that can be used by market operators to run their own trading platform or post service. -trading of digital assets.“
“We believe that all asset classes will be digital assets in the coming years, and the growth of this market and our respective businesses supporting the broader digital asset ecosystem will be significant.”