Russia’s central securities depository, The National Settlement Depository (NSD) announced on Friday it is teaming up with Waves Platform to develop a new blockchain platform to support digital assets.
The duo revealed that the new platform will securely host and store tokenized and crypto assets, along with settling transactions and providing identification for owners of cryptocurrency wallets. The platform’s development is currently under way and its first prototype is set to launch during the first half of 2018. Eddie Astanin, Chairman at NSD, stated:
“The crypto-asset market is rapidly growing and rightfully attracting enormous attention from traditional institutional investors, post-trade infrastructure and financial regulators around the world. In partnering with Waves, our goal is to create a secure and user-friendly accounting infrastructure for digital assets. We consider the platform would not only provide technological and legal protection of all parties involved, but also extend variety of post-trade services for investors, custodians and new institutions emerging in this sector of economy. It is also important to synchronize our efforts with the work of regulators in this field.”
Sasha Ivanov, founder and CEO of Waves Platform, added:
“The ability to work with new types of financial instruments will be of interest to a wide circle of market participants, including banks, pension funds and retail investors. Collaboration with NSD is important for us with regard to all new and existing instruments, allowing us to ensure a high level of reliability, technological efficiency, and risk protection. NSD’s expertise and deep knowledge of market infrastructure will allow us to create a unique product for crypto asset record-keeping, meeting the requirements of a broad spectrum of market players.”