CAST CHALLENGE 2023:
The list of selected participants unveiled
Press alert | Paris, July 4th, 2023
The organisers of the CAST Challenge today announced the list of selected participants for the 2023 event. An open-source hackathon initiative launched by Societe Generale-FORGE with the support of Credit Agricole CIB and various market participants institutions (ABN AMRO, AXA Investment Managers, Banco Santander, VISA). The CAST Challenge will bring together renowned international players, banks, public authorities, and businesses at the Palais Brongniart on 18th and 19th July 2023 to make progress on the construction of the CAST security token interoperability standard.
After examining the applications, the CAST Challenge organisers are delighted to announce the short-list of selected international participants for this year’s hackathon event:
- Union Investment, a major German institutional investor and asset manager,
- Cadmos, a French-based on-chain asset management infrastructure,
- Ceres Advisory, a French-based blockchain and web3 consulting firm,
- FeverTokens, a complete, integrated no-code solution for creating and operating « NFT » platforms and customized web3 applications,
- Kaiko (Challenger Deep SAS), a renowned service provider accompanying companies with industrial-grade, regulatory-compliant data on the crypto-asset sector,
- Obligate, a Swiss-based technological company allowing companies to issue bonds and commercial paper on the blockchain.
- Quantoz, a Dutch-based blockchain services platform offering tokenization and digital asset transactions for businesses.
- We fundia & Re Fundia, a French-based financing platform for industrial projects and a solution for tokenizing your assets and financing your business.
From now until 18th July, an ideation phase will begin, focusing on two use cases:
- Firstly, ‘on-chain’ delivery settlement on blockchain technology,
- A second on the interoperability of security tokens with other financial market standardization initiatives (ISDA’s, ICMA’s and ISLA’s Common Domain Model initiative, ICMA’s Bond Data Taxonomy and ANNA’s work on crypto-asset classification).
At the end of the second day of the CAST Challenge, which will be marked by project presentations to the jury, the 2/3 winning teams will receive up to €10,000 in prize money. Each winner will also be the subject of a public announcement and will have the opportunity to take part in real security token transactions with international institutions.
CAST Challenge 2023
The second edition of the CAST CHALLENGE, initiated by a group of financial and technological institutions (ABN-AMRO, AXA IM, Banco Santander, Crédit Agricole CIB, Société Générale-FORGE and VISA), aims to promote new models for digitalizing capital markets through distributed ledger technologies.
The overall aim of the CAST Challenge is to:
- Build bridges between traditional financial markets and the crypto asset ecosystem.
- Support the adoption of blockchain technology for financial use cases in the real economy, with a secure and transparent regulatory framework.
- Promote new open-source market processes and rules to digitalize capital markets through new technologies.
About Société Générale-FORGE
Societe Generale-FORGE, an integrated and regulated subsidiary of Societe Generale, is authorised as an investment firm and authorised to provide investment services within the meaning of MiF II under the supervision of the Autorité de contrôle prudentiel et de résolution (ACPR) and the control of the Autorité des marchés financiers (AMF) and is registered as a Service Provider for Digital Assets (PSAN) by the AMF. Société Générale-FORGE is developing an open, secure, institutional-quality platform for digital asset transactions, meeting banking security and compliance standards. The solutions and digital assets developed by SG-FORGE comply with the CAST open-source interoperability and security model. For more information, visit www.sgforge.com and www.cast-framework.com.
About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB)
Crédit Agricole CIB is the corporate and investment bank of the Crédit Agricole group, the world’s 10th largest banking group in terms of balance sheet size in 2021 (The Banker, July 2022). More than 8,900 employees in Europe, the Americas, Asia-Pacific, the Middle East and Africa support the Bank’s clients in meeting their financial needs worldwide. Crédit Agricole CIB offers its corporate and institutional clients a range of products and services in capital markets, investment banking, structured finance, commercial banking, and international trade. A pioneer in Climate Finance, the Bank now occupies a leading position in this segment with a comprehensive offering for all its customers. For further information, visit : http://www.ca-cib.fr/
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