Delta Capita Launches New Distributed Ledger Service Joint Venture and Acquires SETL Capital Markets Department

04/24/2023 10:38 • Tech Trends • 102 views

According to reports, Delta Capita, a capital market service provider, has announced the launch of its new distributed ledger service joint venture and acquired the capital markets department of blockchain company SETL. Its first project is the development of a blockchain based Central Securities Depository (CSD) for Montis, a subsidiary of the digital asset exchange Archax, which is supported by abrdn.

Delta Capita acquires SETL Capital and launches DLT department

In a bid to expand its footprint in the digital asset market, Delta Capita, a leading capital market service provider, has announced the creation of a new distributed ledger service joint venture. The firm has also acquired the capital markets department of blockchain company, SETL. The aim of this move is to leverage the capabilities of SETL to provide innovative solutions to the financial services industry.

What is Delta Capita’s New Joint Venture and How Will it Work?

Delta Capita’s new joint venture, named iCSD, will focus on providing a blockchain-based solution for a Central Securities Depository (CSD). This CSD will be used to settle securities transactions for Montis, a subsidiary of digital asset exchange Archax. The blockchain-based system provides secure and efficient settlement and clearing of trades, which ultimately leads to cost savings as compared to traditional stock market transaction settlements.

What are the Benefits of Delta Capita’s New Joint Venture?

Delta Capita’s new joint venture will leverage the superior technology of blockchain to streamline the current CSD process. With traditional systems, transaction data is maintained separately on different databases by different participants, leading to inefficiencies, errors, and delays in the settlement process. The use of blockchain technology creates a single source of truth for all transaction data, leading to more transparent and accurate record keeping.
The use of blockchain technology also ensures the immutability of transaction data. Once a transaction is recorded in the blockchain, it cannot be altered or deleted, providing a more secure and tamper-proof system for financial transactions. Additionally, the use of blockchain can significantly reduce costs by eliminating intermediation and automating the clearing and settlement process.

Acquiring the Capital Markets Department of SETL

As part of its expansion into the digital asset market, Delta Capita has also acquired the capital markets department of SETL. This acquisition will allow Delta Capita to leverage the expertise of SETL in blockchain technology and digital asset markets to provide innovative solutions to its clients.

Conclusion

Delta Capita’s new joint venture and acquisition of SETL’s capital markets department demonstrates the firm’s commitment to leading the digital transformation of the capital markets industry. The development of a blockchain-based CSD for Montis by iCSD is just the beginning of Delta Capita’s foray into the digital asset market.

FAQs

Q: What is a Central Securities Depository (CSD)?
A: A CSD is a custodian of securities which provides clearing, settlement, and other services for the trading of securities.
Q: How does blockchain technology improve the settlement process?
A: Blockchain technology allows for a single source of truth for transaction data, leading to more transparent and accurate record keeping. It also ensures the immutability of transaction data, creating a tamper-proof and secure system for financial transactions.
Q: What other solutions can Delta Capita provide in the digital asset market?
A: Delta Capita can leverage its expertise in capital market services to provide solutions such as digital asset custody, trading, and risk management.

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