Securrency, a leading blockchain-based financial markets infrastructure and products company, announced today that it will deploy its proprietary Digital Asset Composer on the XDC Network, a state-of-the-art blockchain with a mature ecosystem and a particular focus on real-world applications in global trade and finance. Notably, XDC Network is a leading enterprise-ready hybrid blockchain for global trade and finance.
Digital Asset Composer is a unique no-code platform for the creation of digital assets, sophisticated financial instruments such as smart contracts on blockchain networks, and crowd-sourced financial engineering in an open ecosystem of value. It will allow the XDC Network community to easily compose financial instruments and entire DeFi protocols, fractionalize real-world assets (RWAs), and create highly customized utility NFTs.
Through the deployment of Digital Asset Composer, the XDC Network aims to empower its users with more powerful and convenient means of creating value on blockchain networks than existing DeFi tools that have proliferated in recent years. Using Digital Asset Composer along with pre-populated asset class building blocks, users will be able to rapidly create and customize a variety of DeFi protocols that span lending and borrowing, yield aggregation, asset management, and derivatives. The result is a community of network users who are empowered to create entirely new protocols, as well as to extend their own versions of the most popular protocols in the market, much more rapidly than is currently possible.
Securrency will further empower XDC Network users to create institutional-grade digital assets and protocols by integrating its Digital Asset Composer platform with Securrency’s Compliance Aware Token Framework and the Securrency Compliance Oracle. The combination of these two powerful technologies means that users will be able to issue tokens that are deemed to be regulated securities and exchange these tokens across different venues and multiple jurisdictions on the XDC Network. Further, Securrency’s Compliance Aware Token Framework will enable identity-proofed persons to recover an enabled asset in the event of loss of keys, theft, or enforcement actions.
“This is an important development for the XDC Network ecosystem and for institutional adoption of digital assets,” said Atul Khekade, founding director of the XDC Network. “Our collaboration with Securrency addresses several regulatory and institutional stakeholder concerns regarding establishing and maintaining control of assets, especially in regard to regulated financial instruments such as digital bonds, trade finance distribution, stablecoins, and central bank digital currencies (CBDCs).”
Dan Doney, CEO of Securrency, added,“We are extremely pleased to be partnering with the core team and the wider XDC Network community to deploy Digital Asset Composer and enable decentralized access to next-gen financial processes and digitally-native assets in a way that is decentralized, highly composable, and requires minimal blockchain knowledge. Securrency and the XDC Network have put a serious marker down in terms of innovation within the space.”