DACS to Provide Custodial Services for Fundament Group
In an announcement issued by Fundament Group and Digital Asset Custody Services (DACS), it has been divulged that the pair will soon provide digital asset custody services.
More specifically, DACS will act as custodians on behalf of investors holding Fundament Group’s ‘Real Estate Security Token’.
Institutional grade custodial services have long been noted as one of the major hurdles between where the digital securities sector currently stands, and its potential.
DACS notes, in their announcement, that the services which they offer are specifically aimed towards large clients. They list the following groups as examples of those they expect to serve.
- Insurance Providers
- Pension Funds
- Family Offices
The technology used, in making these services possible, were developed through a strategic partnership between DACS and IBM. When this took place, DACS Cofounder, Brad Chun, commented,
“As adoption of crypto custody, exchange and blockchain-as-a-service increases, our potential market will only expand. We’re teaming up with IBM to take the DACS platform to market fast, opening up entirely new value proposition for both of our organization worldwide.”
Upon announcing this new partnership, DACS Cofounder, Neil Fillary, took the time to comment. The following is what he had to say on the matter.
“Fundament Securities is on track to bring institutional players into the space of decentralized finance. Smart contracts and digital-asset technologies are set to transform the way enterprises across industries do business. Now with our digital asset custody solution, Fundament’s underlying infrastructure can help bring security, and accessibility in the crypto-asset market to new heights.”
Fundament Group is a Berlin, Germany, based company, which was founded in 2018. Above all, the team at Fundament Group has worked to develop a suite of services meant to act as a comprehensive tokenization platform.
CEO, Thomas Ermel, currently oversees company operations.
Digital Asset Custody Services
Operating out of Boat Quay, Singapore, DACS is a custody service provider which was founded in 2018. In their short time in operation, the company has managed to establish multiple high profile relationships with companies such as IBM, and LG, on route to developing their custodial platform.
The team at DACS is led by a trio of professionals – Brad Chun, Chul Ho Choi, and Peter Kim.
In Other News
Over the past few months, we have reported on Fundament Group’s actions various times. This includes multiple events which will see hundreds of millions worth of real estate undergo tokenization through their platform. The following articles take a look at these events, and the role that Fundament Group will place.
Fundament and Bauwens to Tokenize Emporio Tower
Fundament Group to Issue €250 Million in Security Tokens backed by German Real Estate