Ledgermatic, which recently announced it is developing treasury tools to allow enterprise and financial institutions to operate with digital assets and associated payments and workflows, announced it has chosen Algorand as its blockchain protocol partner.
Further, it was announced that Ledgermatic received funding from Borderless Capital, a venture capital firm focused on supporting and developing the Algorand ecosystem.
Algorand will form the base protocol Layer for Ledgermatic, providing its enterprise clients with on-chain and cross-chain asset movements from its permissioned network to Algorand’s public network. Algorand’s strong suite of Layer-1 features, including the native Algorand Standard Asset (ASA) protocol and atomic-transfers, are uniquely positioned to enable advanced applications.
In addition, Algorand is developing co-chain functionality, a mechanism that connects permissioned networks to the public main network; which will be instrumental in meeting the complex requirements of enterprise use-cases that are sensitive to transactional costs and privacy.
“Algorand’s Layer-1 features, sustainable ESG profile, key management capabilities, and the commercial interest of its ecosystem made it the stand-out choice for our use-case. The adoption of their base layer technology forms an important step towards the realization of our vision of the evolution of corporate treasury.”
– Isaac Fain, Co-Founder & CTO of Ledgermatic
The Ledgermatic solution will enable enterprises and institutions to integrate digital assets and ledger-based services into their business operations and existing infrastructure, with the highest levels of security and compliance to regulatory standards.
“We are excited to be supporting Ledgermatic. With the growing trend of digital asset adoption by Corporate Treasuries, Ledgermatic is poised for success. By leveraging native Layer-1 novel features and upcoming support for co-chains on Algorand, Ledgermatic will provide a robust institutional solution for Corporates and Enterprises to navigate the new world of digital assets.”
– David Garcia, CEO and Managing Partner of Borderless Capital