BOSONIC, Inc., the leading developer of infrastructure to eliminate counterparty credit and settlement risk in Digital Asset markets for institutions, today announced a historic milestone. Financial institutions have leveraged the Bosonic Network™, the company’s Digital Asset Infrastructure-as-a-Service solution, to clear and settle over five billion dollars in transactions. The Bosonic Network brings together the entire Digital Asset trading and payments lifecycle into a turnkey service that allows member institutions – from market-makers to exchanges, to brokerages – to access and offer risk-free digital asset services with zero barriers to entry. Launched in the fourth quarter of 2020, the Bosonic Network has already signed over 60 member institutions.
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Institutions, especially fiduciaries, suffer from risks and inefficiencies in the trading and settlement process that represent structural barriers to adoption of Digital Assets. As collateral and traded assets leave their control and move through the workflow of dealers, exchanges and brokerages, institutional traders face balance sheet limitations leading to siloed and widely dispersed collateral, slow and risky multi-leg, bilateral transactions, counterparty credit risk, and crippling capital inefficiencies.
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Bosonic, Inc., created the Bosonic Network, a real-time collateral management, payments and settlement network that leverages cryptography to eliminate risk in digital asset markets, as a foundational element in building solutions that solve these problems. Through the digitization of assets, real-time atomic exchange of assets, trade and payments netting, and settlement automation, the Bosonic Network delivers instant and risk-free clearing and settlement between any clients of any custodians that are member institutions. Bosonic is Infrastructure-as-a-Service (IaaS), allowing new members to leverage the benefits of the Bosonic Network with turnkey, fully hosted deployments, and little to no coding or integration work.
“The Bosonic Network’s infrastructure was a multi-year, deep tech initiative that has successfully delivered what industry leaders have referred to as the ‘North Star’ of capital markets – the real-time atomic exchange of assets, where the trade is the settlement,” said Rosario Ingargiola, CEO and Founder of Bosonic. “Almost from the moment we put the network into full production last quarter, it experienced meteoric growth in transaction volumes, reaching levels many successful crypto solution providers have taken years of operation to realize. We are extremely excited to continue the trend as we systematically switch on more than 60 signed institutional clients; we expect to continue this growth trajectory,” Ingargiola stated.
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