Digital Asset is a software company that develops distributed ledger technology solutions for the financial services industry. Digital Asset is the creator of the open source DAML smart contract language.
Digital Asset employs the blockchain technology to facilitate settlements between digital and traditional currencies. Its software maps business logic and legal processes into cryptographic signature flows as well as commits transactions to private or public distributed ledgers and traditional databases, depending on the requirements.
Digital Asset was founded in 2014 by Yuval Rooz, Shaul Kfir, and Eric Saraniecki. The company is based in New York with additional offices in San Francisco, Tel Aviv, Budapest, and London.
Digital Asset offers its software to various market segments such as loans, securities, derivatives, and foreign exchange. The company maintains strategic partnerships with Accenture, Broadridge, and PwC.
Digital Asset's Platform includes Digital Asset Modeling Language (DAML); a domain specific language built specifically for distributed ledgers that is capable of expressing any right or obligation, including cash, securities and derivatives, whereby the code defines the considerations between parties and determines how these contractual relations can evolve over time.
Digital Asset is backed by Goldman Sachs, Citigroup, JP Morgan, and Jefferson River Capital, and the Australian Securities Exchange (ASX), among other firms. The company raised $35M in a Series C financing on Dec 11, 2019. This new round brings Digital Asset's total funding to $152.2M to date.