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Global Debt Registry Accelerates Blockchain Adoption In Structured Credit Markets

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Global Debt Registry Accelerates Blockchain Adoption In Structured Credit Markets

Benzinga is highlighting nominees for the fifth annual Benzinga Global Fintech Awards ahead of the event Nov. 19 in New York City.

One nominee is Global Debt Registry (GDR), a SaaS fintech for the structured credit market.

Background

Founded in 2005, the U.S.-based fintech GDR leverages a SOC1 & SOC2 compliant IBM blockchain to help manage lending facilities form origin through securitization.

Backed by private equity and industry titans of the likes of Thomson Reuters Corp (NYSE: TRI), Credit Suisse Group AG (NYSE: CS), BlackRock, Inc. (NYSE: BLK), Bank of New York Mellon Corp (NYSE: BK) and Barclays PLC (NYSE: BCS), GDR aims to increase efficiency in the asset-backed securities market.

Recent Developments

Global Debt Registry joined the Mobility Open Blockchain Initiative, an association of automakers, tech startups and mobility companies.

The development means that GDR will collaborate with industry leaders in the creation of a standardized blockchain ecosystem, increasing transparency and reducing transaction costs in mobility.

The company said earlier this year that it has surpassed 1 million registered consumer, business and student loan assets, a signal that the firm is helping accelerate blockchain adoption in structured finance.

“We increasingly see the market validating our approach for improving efficiency via digital structured credit. A phased approach to the digitization of these assets is enabling participation and benefits across the credit ecosystem,” CEO Charlie Moore said in a statement. 

Going Forward

GDR aims to further evolve its product offerings to create new market efficiencies and complement the existing Echo, Immutable Diligence and ePledge management tools for collateral pledge risk, document management and cost mitigation.

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