Quant has made the technology used in the Bank of England’s CBDC project available to businesses.
The company on Tuesday released its Overledger Platform that's used in the Bank of England and Bank for International Settlements Project Rosalind retail CBDC project.
With the new technology, Quant is addressing blockchain interoperability challenges between central bank and institutional ledgers.
"It will allow for ledger interoperability and a unique and secure way to bridge assets between public or private blockchains," company CEO Gilbert Verdian told The Block.
Quant partnered with digital transformation company UST on the project.
"Today’s news that Quant is offering a native SaaS version comes as no surprise, it is a timely release and will be welcomed by the market," global head of blockchain at UST Daniel Field told The Block.
With the increased interest from institutions in the areas of tokenized money and assets, Field added that the technology is well positioned to meet "a rapidly approaching tipping point where this switches from a marathon to a sprint."
source:theblock
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