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Finnish blockchain player Quant and UST team up for tokenization services

UST, Quant logos

Blockchain finance pioneer Quant is partnering with leading digital transformation solutions company UST to provide technical integration and tokenization services to central and commercial banks and capital market participants. These services will help financial institutions adopt digital assets as they increasingly realize the benefits of distributed ledger technology (DLT) by issuing digital money and tokenizing existing asset classes to improve settlement speed and access new markets and customers, a UST spokesman said here.

Central bank digital currencies

Quant will provide the underlying technology, while UST will support user interface development and integration through its sandbox based in their London-based innovation lab. The partnership facilitates the issuance of central bank digital currencies (CBDC), digital money in the form of commercial stablecoins, and digital securities on major distributed ledger networks.

Gilbert Verdian, founder and CEO of Quant, said UST has been at the forefront of blockchain services for nearly a decade and their customer focus is in line with his own approach. “The partnership will enable financial institutions to create new business opportunities and innovate with new products and services built into DLT to tokenize existing asset classes.”

Daniel Field, global head of Blockchain, UST, said the company partnered with Quant because of the agility and flexibility inherent in its technology. “Created with the needs of financial institutions in mind, Quant’s Overledger API Gateway is the perfect foundation to bring the benefits of blockchain to the multitude of businesses in the sector,” he added.

The life cycle of a blockchain project

The representative added that by working with two firms, financial institutions can reduce the life cycle of their blockchain projects to just a few weeks. Quant uses a low-code API to issue highly secured digital assets and externally verified tokenized currencies. Its Overledger gateway enables business flows used by banks for accounts, payments and settlements and can connect to exchanges and asset management platforms.

Pilot CBDC projects are now underway around the world, opening up new opportunities for governments, businesses and consumers.

Written by khirou

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