US investment bank Goldman Sachs – a supporting force behind major crypto entity Circle – is reportedly reinforcing its tokenization attempts, via a new alliance forged with the blockchain startup Digital Asset.

Specifically, the freshly formed collaboration will reportedly make it possible for Goldman Sachs to utilize Daml – a development framework designed by Digital Asset, to enable financial entities to create and execute blockchain-based agreements. 

One of core Digital Asset’s technologies, Daml will reportedly offer the needed assistance for Goldman Sachs to complete the design of its self-developed “end-to-end tokenized asset infrastructure”, which would provide facilitation for numerous asset classes on private and public blockchains. 

Mathew McDermott, global head of digital assets at Goldman Sachs, reportedly revealed that Daml-powered solutions potentially possess the ability to speed up blockchain-powered digitization workflows throughout financial entities and customers, via establishing interconnection among several infrastructures. 

“As we continue to build out our tokenization capabilities, we need solutions that could rapidly capture the full complexity and diversity of assets at the heart of our business for both digitally native or tokenized traditional assets, and be interoperable across multiple blockchains.”

Daml – which Implements the eponymous smart contract language – reportedly functions as a platform supporting the creation of multi-party applications, with a primary target of ruling out double processing and manual work. 

Multiple of the most major financial institutions across the world, nominally BNP Paribas’ securities arm, reportedly carried out the deployment for Daml-based smart contracts, to build real-time trade and settlement applications.

Digital Asset is yet to provide additional updates on the matter.