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BNP Paribas connects the Hong Kong and Australian stock exchanges with the blockchain

The French bank has joined forces with the company Digital Asset.

The aim of the partnership is to connect the Australian stock exchange and the Hong Kong stock exchange.

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BNP Paribas

French bank BNP Paribas has announced a partnership with Digital Asset. This company develops solutions using the DAML language.

The DAML programming language allows the development of solutions based on a complex distributed ledger infrastructure (DLT).

The aim of the partnership is to connect the Australian Stock Exchange (ASX) and the Hong Kong dung (Hong Kong Exchange — HKEX).

The applications or dApps will be intended for trading and settlement of financial securities in real time. Luc Renard, Head of BNP Paribas Securities in Asia, said:

We believe that DAML has the potential to become a new standard for international capital markets. As a smart-contract language, it can be used by almost any securities trading and settlement platform.

The Digital Asset company

The Digital Asset company is known for its work with the Hong Kong Stock Exchange (HKEX) in the development of the Stock Connect solution. This serves as a gateway for international investors to participate in exchanges between Shanghai and Shenzhen. Unlike the usual two-day settlement window, in China it is four hours.

On September 14, the company Digital Asset also announced another agreement with China’s Blockchain-enabled Service Network (BSN), where DAML will enable interoperability between blockchains using different distributed ledger technologies (DLT).