Bosonic launches clearing and settlement solution for digital assets

Rick Steves

Bosonic launched a 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.

Bosonic has launched a clearing and settlement solution for digital assets that removes the dependency on bilateral credit or a central counterparty, the decentralized Financial Market Infrastructure (dFMI) announced.

Going by the name of Bosonic Enterprise Solutions, the service provides Bosonic’s Layer-2 blockchain solution designed to support payment versus payment (PvP) instantaneous clearing and settlement of digital assets and fiat currencies that already underpins the Bosonic Network.

Removind dependency on bilatereal credit or central counterparty

Bosonic said regulated financial market infrastructure organizations and banks looking to launch digital asset capabilities have shown interest in such a clearing and settlement solution, as well as digital asset exchanges in need of post-trade clearing and settlement technology to eliminate counterparty credit and settlement risk.

The solution is available either as Software-as-a-Service (SaaS) model or a  dedicated deployment model to suit the needs of clients that want to operate their own networks and market platforms.

Bosonic Enterprise Solutions enables clients of Financial Market Infrastructure (FMIs), banks or exchanges to maintain collateral in their own accounts at regulated, neutral custodians that use Bosonic’s technology to automate net settlement movements from trading.

Rosario Ingargiola, Chief Executive Officer at Bosonic, 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.”

Jason Nabi, Chief Revenue Officer at Bosonic, commented: “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. We believe all asset classes will be digital assets in the coming years, and the growth of this market and our respective business supporting the wider digital asset ecosystem will be significant.”

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