7 Financial Firms to Build Post-Trade Blockchain for Small Businesses
Seven financial institutions have combined forces to explore how blockchain tech could help lower the costs of providing post-trade settlement services to small- to medium-sized enterprises (SMEs). BNP Paribas Securities Services, Caisse des Dépôts, Euroclear, Euronext, S2iEM, Société Générale and Paris EUROPLACE announced today they have signed a memorandum of understanding to develop the initiative. By lowering the costs of post-trade services, the group says SMEs could better access to financing through the capital markets. The partnership will also consider launching an independent....
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A seven-strong consortium has joined forces to explore how blockchain technology could help lower the cost of providing post-trade settlement services to small- to medium-sized enterprises (SMEs). BNP Paribas Securities Services, Caisse des Dépôts, Euroclear, Euronext, S2iEM, Société Générale and Paris EUROPLACE revealed that they have signed a memorandum of understanding to create the initiative. By combining their money and expertise, the group hope that they can harness the blockchain technology reducing financial costs and improving SME’s access to capital markets. The group will also....
The COVID-19 pandemic has triggered the adoption of blockchain and DLT-based business solutions in the global trade ecosystem. As the coronavirus pandemic continues to push more people out of their offices, many companies across the globe are adopting decentralized ledger technology to mitigate its effects and remain operational. Emmanuelle Ganne, senior analyst at the World Trade Organization, told Cointelegraph that “The current pandemic, which has a devastating impact on small businesses, is an opportunity to accelerate trade digitalization, to the benefit of SMEs in particular.” Ganne....
A new blockchain consortium has been formed in South Korea, with both established finance firms and technology startups on its membership roster. According to one of the group's members – blockchain startup The Loop – the new initiative will focus some of its efforts on building tools for managing trade finance processes. The firm said in a statement: “Beyond providing [the] blockchain-based authentication and information sharing system, we collaborate with other technology providers on developing a prototype for financial services in areas of securities trade and post trade, the prototype....
Several prominent exchanges, trading firms and banks have come together to set up a blockchain-based settlement group that could significantly transition the current securities market in the way of settling securities trades. A group comprising of the London Stock Exchange, UBS, the CME Group, Societe Generale, LCH. Clearnet and Euroclear have formed an initiative to look into the possibilities of bringing blockchain technology to securities trading. As reported by the Financial News, sources familiar with the group have confirmed three meetings that have already taken place in recent....
As the biggest Chinese currency intervention ever sends shock waves to markets around the world, trade between Latin America and China continues to increase exponentially. Concurrently, small and medium Chinese and Latin American entrepreneurs are working actively to make Bitcoin and the blockchain technology successful. For these entrepreneurs, Bitcoin....