The panel awarded the Debt Algorand Standard Application (D-ASA) project for doing something the tokenized debt space has largely only promised: end-to-end execution of ACTUS contract logic directly on the Algorand Virtual Machine. Issuance, lifecycle events, settlement, transfers, and cashflows, all handled as verifiable, on-chain operations. Running.

Judges specifically called out the asynchronous settlement design, role-based institutional controls, and native atomic transactions. The open-source SDK/framework packaging was highlighted as something banks and issuers could actually build on. They’ll have a credible, standards-aligned foundation for debt tokenization, ready to deploy.

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