ARC is an open-source security master database for digital
assets, eliminating proprietary biases and ensuring timely updates
through community contributions.
MIAMI, May 14, 2024
/PRNewswire-PRWeb/ -- Amberdata, the leader in digital asset
data and analytics for institutional customers, today announces the
launch of Asset Reference and Classification (ARC), an
institutional-grade security master database for digital
assets.
Amberdata's ARC initiative is a significant
step forward for the digital asset industry. ARC's proposed
standard paves the way for a more collaborative ecosystem, where
exchanges, custodians, and data providers can speak the same
language, ultimately benefiting the entire industry.
"Amberdata is excited to launch ARC, the first and only
open-source security master database for digital assets," said
Shawn Douglass, CEO, Amberdata. "ARC
addresses a significant barrier to digital asset adoption for
institutional participants, enabling them to enter the asset class
with confidence, maintaining accurate records internally and with
other institutions. The open-source approach to ARC is key,
allowing the database to stay current and unbiased through the
contributions of a wide community of institutional digital asset
participants."
"Amberdata's Asset Reference and Classification (ARC) database
is a timely and much-needed contribution to the industry," said
Mira Witzig Borja, VP of Markets
Strategic Investments, Citi. "As demand from institutional clients
continues to increase, ARC equips these clients with critical
infrastructure to derive standardization, transparency, and
completeness in their digital asset activities. In turn, we
anticipate market participants may find increased confidence in
digital assets by ARC connecting disparate dots."
"Amberdata's ARC initiative is a significant step forward for
the digital asset industry," said Dennis
Chou, Director of Trading, Pantera. "The lack of a standard
security master has long been a barrier to efficient operations and
regulatory compliance. By introducing an open-source approach with
ARC, they're not only breaking down the walled gardens but also
addressing the fundamental need for interoperability and
transparency. ARC's proposed standard paves the way for a more
collaborative ecosystem, where exchanges, custodians, and data
providers can speak the same language, ultimately benefiting the
entire industry."
"The debut of ARC by Amberdata marks a pivotal advancement in
blockchain technology's evolution, bridging the gap between
traditional finance standards and on-chain operations," said
Will Nuelle, General Partner of
Ventures at Galaxy. "By introducing ARC, we can expect greater
transparency, alignment, and cross-chain collaboration, catalyzing
widespread adoption within our industry."
A security master database is a data store that contains
reference data about financial products and is used by market
participants to organize their records across trading, risk,
clearing, and settlement operations. Because the universe of
digital assets is vast and a single asset can be accessed across an
ever-changing number of blockchain networks, trading venues and
protocols, maintaining an accurate security master database is even
more difficult than for traditional assets.
Current proprietary solutions for digital assets are challenged
to stay current with the changing digital asset landscape, and the
closed nature of the proprietary offerings results in a disjointed
view of the digital asset universe, creating barriers to
maintaining accurate business records and interoperability between
financial institutions.
By contrast, ARC is an open-source dataset that enables
financial institutions to segment and view the digital asset
universe with a consistent lens. By combining the reference
details, classification, and categorization, ARC is a one-stop
solution that provides transparency into the operations and use
cases of any digital asset.
The open-source nature of ARC allows the dataset to benefit from
the contributions of a broad community of digital asset
participants, eliminating biases due to proprietary judgments on
reference data, attributes, categorization, and classification.
While ARC is an open-source dataset, Amberdata will be the
primary maintainer. Contribution guidelines are currently
available, allowing the institutional finance community to
contribute to and expand the dataset. ARC is constantly updated and
available via GitHub, analytics-friendly flat-file formats, and an
API. Amberdata also plans to release an ARC explorer interface, so
that users can search for and identify digital assets, as well as
mapping ARC IDs to other standards, including LSEG PermIds.
Use cases for ARC include:
- Decision Making - Unify stakeholders across front, middle, and
back offices to make informed decisions.
- Analysis and Reference - Keep records of the highly dynamic
universe of digital assets with a repository of accurate asset and
classification information for reference and analysis.
- Trading - Optimize execution workflows and enhance trade
execution strategies.
- Risk Management - Strengthen risk assessment and mitigation
practices throughout the asset lifecycle and align with
regulations.
- Tax and Accounting Compliance - Streamline accounting
operations, ensure compliance with regulations, and report digital
asset transactions.
To learn more about ARC, go to amberdata.io/arc.
To contribute to or use ARC, go to the ARC GitHub.
To get a demo, go to amberdata.com/demo.
About Amberdata
Amberdata is the leading provider of digital asset data, market
intelligence and risk analytics. We deliver comprehensive data and
insights into blockchain networks, crypto markets, and
decentralized finance, empowering financial
institutions with data for research, trading, risk, analytics,
reporting, and compliance. Amberdata serves as a critical piece of
infrastructure empowering the financial markets of the future. To
learn more, visit Amberdata.io
Media Contact
Jonathan Duran, Melrose PR,
310-260-7901, jonathan@melrosepr.com,
https://www.melrosepr.com/
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SOURCE Amberdata