Quant, a UK-based blockchain-for-finance firm, has announced a partnership with UST, a digital transformation solutions company, to expedite the adoption of institutional digital assets across financial services.
The collaboration will cater to central and commercial banks and participants in capital markets with technical integration and tokenisation services.
The services are expected to enable financial institutions in adopting digital assets.
As a part of the partnership, Quant will deliver the foundational technology, while UST will offer support through user interface design and integration through its Sandbox based in its London innovation lab.
The collaboration will enable the issuance of digital money in the form of commercial stablecoins, central bank digital currencies, and digital securities onto key distributed ledger networks.
Quant claims to leverage low-code APIs for issuing highly secure and digital assets and tokenised currencies that are externally validated.
With its Overledger gateway, Quant allows the use of business flows by banks for payments, accounts, and settlement, and can connect to exchanges and venues for asset management.
Quant founder and CEO Gilbert Verdian said: “UST has been at the forefront of blockchain services for almost a decade and their customer focus is aligned with our approach.
“The partnership will ensure that financial institutions can create new business opportunities and innovate with new DLT-embedded products and services to tokenise existing asset classes.”
The collaboration between Quant and UST is expected to help financial institutions to reduce the lifecycle of their blockchain projects to a few weeks.
UST blockchain global head Daniel Field said: “We have partnered with Quant because of the flexibility and agility inherent in its technology.
“Built with financial institutions in mind, Quant’s Overledger API gateway is the perfect foundation to bring the benefits of blockchain to a multitude of businesses in this sector.”