Digital Asset (Company)

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Digital Asset
Founded 2014
Headquarters New York, NY, USA
Key People Yuval Rooz, CEO; AG Gangadhar, Executive Chairman; Donald R. Wilson Jr., Co-Founder and director; Sunil Hirani, Co-Founder and Director; Blythe Masters, board member, strategic advisor
Employees 150-200
Products Fintech, distributed ledger technology
Twitter @digitalassetcom
LinkedIn Profile
Website DAH Homepage
Blog DAH Blog

Digital Asset, formerly called Digital Asset Holdings, is a software company that uses blockchain technology to facilitate settlement between digital and traditional currencies.[1]

Company History[edit]

Digital Asset was founded in 2014 by Sunil Hirani and Don Wilson.[2] In 2017 the Australian Securities Exchange became the first major exchange to adopt blockchain technology, using Digital Asset's platform.[3]

In July 2018, the company announced that Digital Asset had partnered with Google Cloud to provide blockchain developers with tools that would make it easier for them to create blockchain applications.[4]

Digital Asset announced on April 4, 2019, that it was going to make its DAML freely available as an open source modeling language. DAML is Digital Asset's computer language for programming smart contracts on its platform. The move is intended to facilitate adoption and integration with other platforms.[5]

In June 2019, Digital Asset integrated its DAML with Corda, as well as Hyperledger's Sawtooth, R3's Corda, and Amazon's database service, AWS Aurora. This was done to streamline workflows around some of the world's more widely-used ledgers, according to Digital Asset CEO Yuval Rooz.[6]

In April 2021, Digital Asset raised over $120 million from financial service firms 7Ridge and Eldridge. The company said the funds would go towards increasing its global workforce by 50 percent and launching new products, including a new cross-blockchain protocol designed to function as a data network that is interoperable between both blockchains and traditional databases.[7][8]

Personnel Transitions[edit]

Blythe Masters, a leading developer of credit default swaps and former executive at JPMorgan Chase & Co., joined Digital Asset as CEO in March 2015.[9]In December 2018, Digital Asset announced Masters would be stepping down as CEO of the company for personal reasons. The company said she would remain a board member, strategic advisor and shareholder.[10] She was replaced by acting CEO by AG Gangadhar, who was also named executive chairman.[11] Yuval Rooz, who had been COO, was named to replace Masters, according to a March 19, 2019, Digital Asset press release.[12]

Digital Asset's Europe head, Gavin Wells was reported to be stepping down in March 2019 shortly after CIO and CTO of engineering James Powell stepped down in February. Wells was replaced by Oliver Hugh-Jones and Powell by Shaul Kfir. Zohar Hod was named chief staretgy officer at the same time.[13] The senior product architect for Digital Asset's mark-up language, Sofus Mortenson, also left the company in March 2019.[14]

Coindesk reported that having quietly left the board, Digital Asset board member Sallie Krawcheck's name was removed from the company website in late February or early March.[15]