Ledgermatic To Boost Digitization Of Treasury Services

The team of digital market infrastructure specialists behind Custody Digital announced in a Tuesday (Jan. 26) press release the launch of Ledgermatic, which aims to help modernize corporate treasury solutions.

The release says the tools “integrate seamlessly” with the tools already there for banking and ERP solutions.

With that, the software will allow users to use both traditional and digital assets, unlocking liquidity from both types of assets through a singular portal, which can help financial organizations future-proof their corporate treasury services and remain profitable, the release says.

The Ledgermatic program is built on Confidential Computing platforms produced by IBM Cloud Hyper Protect, according to the release, and will work to connect CFOS and treasurers with a set of digital asset-denominated financial products and risk management tools.

The service will be underpinned by Ledgermatic’s own “Confidential Key Construction” platform, which provides a better algorithm for multi-party computation, which will offer non-repudiation and embedding governance and controls into the key shares, which will provide guaranteed solid decision making, the release says.

Ledgermatic CEO Luke Sully said it was important to keep up with technological updates.

“As the world moves towards a token economy, finance teams are faced with an opportunity to modernise their business today so they can safely integrate digital assets tomorrow,” Sully said. “We are excited to be developing Ledgermatic’s suite of treasury technologies to enable enterprises and financial institutions to take advantage of this exciting new era with low risk and high control.”

PYMNTS wrote recently that corporate treasury can prepare for the new economy and how treasury departments will play a role. According to Caitlin Long, founder and CEO of Avanti Financial Group, the shift to digital will help treasurers with evolving out of the old pitfalls of legacy processes, particularly as things shift more to real-time.

Real-time settlements have done away with the need for the batch settlement, which had previously been the norm for treasury departments. PYMNTS writes that blockchain data has helped with storing data.