New solution allows market infrastructure institutions to support tokenised asset classes and drive growth.
SGSS will use the TCS BaNCS as its next-generation, multi-entity asset servicing platform in France, Germany, Ireland, Luxembourg and the UK.
TCS has extended its SaaS cloud-based asset servicing platform to include custody and settlements.
The settlement was carried out between the CSDs of Kuwait and Morocco using cash coins on the TCS BaNCS Network.
The new tech marks the first transformation in Europe of a CSD replacing its core legacy system.