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Blockchain platform Swiat enlists support of financial technology vendors

Source: Swiat

SWIAT GmbH (“SWIAT”), a FinTech specialising in the development of blockchain software for an open, decentralised financial market infrastructure, has enlisted IT service providers adesso, GFT Technologies and think tank Business Solutions as well as management and technology consultancy Sopra Steria as validators for the SWIAT ecosystem.

The four strategic partners specializing in IT and digital processes are already working with financial institutions and fulfill all compliance and regulatory aspects. This creates the greatest possible degree of reliability for financial institutions wishing to use the SWIAT Blockchain platform as partners or customers, while at the same time lowering the barrier to entry. In the future, adesso, GFT, Sopra Steria as well as think tank Business Solutions will provide selected blockchain nodes and ensure that incoming blockchain function calls are validated and executed correctly according to predefined rules and protocols.

By incorporating validators into its blockchain, SWIAT increases the security of its ecosystem specializing in regulated digital assets and further strengthens the reliability of its infrastructure for the financial industry.

Henning Vollbehr, CEO of SWIAT, said: “We are delighted to have won adesso, GFT, Sopra Steria and think tank Business Solutions, four renowned IT and digital specialists, as validators for our blockchain. With their support, we will further increase the reliability and decentralization of the SWIAT platform and make it easier for financial institutions to integrate our software solutions for issuing digital assets into their infrastructure. We offer financial institutions a software solution tailored specifically to their requirements, which minimizes the need for internal coordination.”

Dr. Timo Reinschmidt, CCO of SWIAT, added: “SWIAT has set itself the goal of establishing an international settlement standard for the issuance of digital assets together with global financial institutions. With the support of adesso, GFT, Sopra Steria and think tank Business Solutions as validators and the expansion of our shareholder base, which was completed just a few weeks ago, we have reached two important milestones within a short period of time and established a very good basis for the further development of SWIAT. Together with our partners in this network, we will now press ahead with gaining new customers and partners on the global financial markets.”

adesso, GFT, Sopra Steria and think tank Business Solutions are convinced of the benefits and growing importance of an open and decentralized financial market infrastructure and have far-reaching plans associated with the strategic partnership with SWIAT. These range from the expansion of their own digital service offering, including blockchain applications that will run on the SWIAT platform, to a potential joint development and implementation of innovative blockchain solutions. The validators are united by their motivation to bring their own expertise from the financial industry and from digital innovations to the strategic partnership with SWIAT but also to build up new expertise in the field of DLT-based open financial solutions through the cooperation.

The declared goal of SWIAT is to create a single global standard for the processing of blockchain-based securities on the SWIAT platform. A key feature of the SWIAT blockchain ecosystem is that capital market law, compliance and regulatory aspects are taken into account in the conception phase, thereby offering security and compatibility with regulatory requirements.
SWIAT forecasts digital assets to grow in importance globally in the coming years as tokenisation increases. In Europe, SWIAT estimates that an open decentralised financial market will grow more than 60 percent per year (CAGR) to more than €3 trillion by 2030.

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