Asset manager and administrator SEI has partnered with tokenisation platform Ctrl Alt to participate in the Bank of England’s (BoE) Digital Securities Sandbox (DSS). As a part of the partnership, SEI Ventures, the former’s venture capital programme, has made an early-stage investment in the latter.
SEI will be providing the underlying assets for tokenisation in the DSS’s second phase and may proceed to manage custody and crypto asset activity if successful. Attaining second phase in the UK’s DSS means getting permission to go live within the sandbox. The phase follows after Gate 1, which is preliminary approval.
Matt Ong, CEO and founder of Ctrl Alt claims that the firms solutions have been built to “seamlessly enable the tokenisation of assets within the parameters of traditional financial structuring, so the industry can benefit from the technology with legal certainty”.
