Software provider Quant has partnered with tech company Oracle to launch the Oracle Blockchain Platform Digital Assets Edition (OBP DA) to drive interoperability.
Quant founder and CEO, Gilbert Verdian, said the company was keen to be part of the “next wave of blockchain interoperability by ensuring digital assets can seamlessly integrate with blockchain networks and traditional financial infrastructure”.
OBP DA has been launched as a solution to this problem, claiming to streamline the development and deployment of digital assets applications, creating unified ledgers, a Quant spokesperson said.
The platform simplifies the tokenisation process by combining bank-grade distributed ledger infrastructure with pre-packaged smart contracts, APIs, indexing database capabilities, web applications and analytics tools.
Each aspect of the OBP DA will effectively allow for a faster method of bringing digital asset solutions to the market.
Moreover, numerous financial institutions are presented with the issues of costs, complexity, and a lack of expertise when attempting to develop scalable blockchain-based financial solutions.
OBP DA offers a holistic platform including instant domain expertise, providing instant access to specialised domain expertise that allow for a quicker market entry.
Additionally, it presents lower development costs through pre-built tokenisation frameworks, faster innovation cycles, interoperability, enterprise-grade security, and real-time insights, the company said.
Quant claims that by enabling programmable payments services for deposit token and stablecoin use cases, it can support advanced payment models using simple locks, two-party, or three-party locks to allow banks, asset managers, and others to offer innovative financial services to their clients.
