Zerocap conduct successful POC on ASX platform to bring institutional grade custody for digital assets
Digital assets investment and advisory specialist Zerocap has completed a Proof-Of-Concept on the ASX’s Distributed Ledger Technology (DLT) as a Service platform, Synfini, specifically for the custody and administration of digital assets. Further development will be undertaken by Zerocap in the coming months with the goal of being able to fully integrate digital assets into the ASX’s DLT as a Service ecosystem.
Zerocap provides its institutional and wholesale clients with Australia’s best custody solution for digital assets, incorporating MPC cryptography and hardware isolation via Fireblocks, and bespoke insurance from Lloyd’s of London.
By integrating digital asset custody the solution could support custody for any tokenised asset – crypto, bonds, shares, property, currency-based – that customers may wish to custody on Synfini.
Zerocap’s current platform can already trade and provide segregated custody for any tokenised asset. Client’s assets and transactions could be recorded on Synfini via smart contracts to form immutable records on a distributed ledger, providing investor protection and greater efficiency for digital asset transactions.
Zerocap CEO Ryan McCall said, “Our goal is to provide institutional investment grade services and back office administration at least to the level of any traditional and existing financial services instruments. This includes relevant and appropriate regulatory compliance and oversight by appropriate agencies.
“We get that many investors remain wary of the digital assets space … a guiding Zerocap mantra is to break down the barriers to investing in digital assets.
“Working on this project to provide an institutional grade digital asset custody offering on the ASX DLT as a Service is an exciting initiative.
‘’We at Zerocap know that there have been many calls for an Australian based top quality custody solution – well, it’s here and we look forward to extending its capability with the ASX on Synfini,” Ryan McCall said.
Paul Stonham, General Manager of DLT Solutions at the ASX said, “Synfini provides a secure, open-source environment in which developers and others can bring new use cases for digital assets into reality. Zerocap’s custody service POC is an excellent example of the ever expanding ecosystem we are looking to develop.”