16.01.2021

Alfa-Bank Launches Bank-as-a-Service Platform on Waves Blockchain

According to a press release published by the bank on Sept. 12, the service – dubbed Distributed Treasury and Cash Management (DTCM) – enables Alfa-Bank’s corporate clients to manage their payments, loan and deposit products, as well as liquidity pool inside the holding.

Alfa-Bank and X5 Retail Group partnered to launch a blockchain liquidity management service in Russia.

A bank created for the user

The service is described as a “bridge to the Bank-as-a-Service (BaaS) model for corporations.” Director of the Alfa-Bank Center for Innovations Research and Development Denis Dodon explained:

“The key difference between DTCM and other offers available on the market is that we give our client not just a channel to send orders to the bank but a way to shape up business logic of the product and actually ‘create a bank’ for the client’s convenience.”

A Waves enterprise blockchain implementation

Unlike the traditional banking model, the BaaS model allows the clients to customize the service. DTCM is hosted on the Waves enterprise blockchain platform and employs smart contracts.

X5 Retail Group CFO Svetlana Demyashkevich commented:

“The experience gained jointly with Alfa-Bank and Waves Enterprise constitutes a new benchmark in our interaction with banks: we get a unified treasury application, improve data management, and cut costs and operational risks.”

Demyashkevich also explained that X5 intends to broaden the use of Distributed Ledger Technology to optimize processes. She added that the technology will “be used in other forms of interaction with partners, such as payments, encashment and optimized collaboration with insurance companies.”

As Cointelegraph reported earlier today, major Spanish bank Banco Santander has issued what it claims is the first end-to-end blockchain bond.

AssetBlock Tokenizes $60M of Real Estate on Algorand’s Blockchain

Blockchain real estate investment firm AssetBlock launches its commercial real estate investment platform on Algorand’s (ALGO) blockchain.

According to an AssetBlock press release published on Sept. 17, the firm partnered with luxury hotel asset manager Lodging Capital Partners (LCP) to tokenize $60 million of exclusive hotel properties on Algorand.

Opening real estate investment to everyone

As a result of the partnership, crypto-savvy investors will have access to properties that are unavailable to the public and will be able to exchange the blockchain’s native tokens for those assets.

CEO and founder of AssetBlock Mike Liddell commented on the development:

“We created AssetBlock because the modern economy was in need of modern technology. We saw an opportunity to build a solution that brings traditional and non-traditional real estate investors and professionals together efficiently, creating more opportunities for all involved.”

A notable partner

Liddell also claimed that LCP “has invested in a portfolio of properties valued at more than $1.5 billion and continues to deliver strong performance.” Principal and CIO of Lodging Capital Partners Steve Kisielica:

“Our partnership with AssetBlock opens up LCP to a new investor pool which allows us to fundraise and expand our business more efficiently. […] To remain competitive in an ever-changing landscape, it’s vital for the real estate investment community to embrace technology like blockchain that is pushing the industry forward.”

Lastly, AssetBlock says that it will continue to add additional real estate partners and properties and promises to make further announcements soon.

As Cointelegraph reported earlier today, the startup Harbor announced a partnership with Seattle-based real estate investment firm iCap Equity to tokenize $100 million in real estate funds.

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