LAB577, an established software firm at the nexus of emerging technology and financial services, has today announced that ABE.io has signed a multi-year deal to build-out and implement a Corda-based distributed ledger (DLT) powered by DASL for their global marketplace exchange.

ABE.io joins a growing number of companies focused on digital assets, including BCB Group, Ivno, Skyhook and SEBA Bank who have all signed up to utilize DASL’s out-of-the-box, production-ready, robust, finance grade application for asset tokenization. DASL is a complete, hosted technology solution for digital assets, built on Corda and uniquely designed to be interoperable with other DLTs to allow for consolidation of technology over time.

By implementing DASL, ABE.io will be able to deliver on their vision of revamping capital markets infrastructure to improve transparency, optimize trust, reduce associated fees and, globalize access to capital markets.

Launching in 2021, ABE.io enables issuers to register a financial instrument once and trade it around the world. ABE also enables access to the capital markets regular investors, not just accredited or institutional investors, across four different continents 24/7. 

John Pigott, CEO founder of ABE, said: “ABE's adaptable-auction market structure optimizes trust. ABE enables multiple forms of a financial instrument to trade simultaneously, so that a stock, its ADR, GDR, and tokenized form all clear at the same price."

LAB577, an established software firm at the nexus of emerging technology and financial services, is helping ABE start with a compliant, foundational premise by using the Corda DLT in a private node network.

The architecture of a private node network directly correlates with the current regulatory regime of member-based securities exchanges. Leading a technological paradigm shift, current tier-one members on the ABE.io exchange will essentially become connected nodes, gaining access to self-authenticating DLT data packets, providing ontological certainty that the data is accurate and has been reconciled with the rest of the data set. “This can reduce the damage from market seizure, by 60% to 70,” according to Pigott. As well as reducing operational costs by millions of dollars.

In the ABE.io exchange, powered by DASL, significant developments to optimize post-trade workflow processes have been implemented to ensure the buyer and seller can verify the trading request. DASL helps to verify that the exchange hasn’t falsified the orders verifying requests contain references to signed payloads. Further enhanced functionality is being built out to escrow assets during the order placement and matching process.

“We’re excited to partner with LAB577, they understand the ethical constraints of capital markets as well as the traditional capital markets structure while also understanding the technology and the value set. They are good trading technologists, building the right technology on top of the right blockchain,” added Pigott. 

Richard Crook CEO & Founder at LAB577, said: “We’re really enjoying working closely with the ABE.io team. We share their vision for how capital markets should work and how DLT can be applied to trading technology. We look forward to building out the basic infrastructure in the direction of the capital markets.”