Post-Trade Firm Euroclear: CSDs Matter in Blockchain Settlement System
A new report by Euroclear has looked at the regulatory and legal aspects of the use of blockchain technology in post-trade settlement in a European context. The report, Blockchain Settlement: Regulation, Innovation, and Application [PDF], with support from Slaughter and May, found that central securities depositories (CSDs) would play an important role in a blockchain-based settlement system. It also stated that regulators should not fear the use of smart contracts and distributed ledger technology any more than any other automated computer-based process prevalent throughout the settlement....
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Clearing and settlement services firm Euroclear has announced its first partnership with a blockchain industry business. Belgium-based Euroclear revealed today it would partner with bitcoin exchange and blockchain services provider itBit to develop a system for settling gold trades. The project is aimed at reducing risk and increasing asset mobility and liquidity in the London gold market, and will find the two firms working in tandem to develop a "next-generation settlement service" that could be launched as soon as next year. As part of the deal, Euroclear will act as the....
Euroclear is best known for being one of the world’s biggest settlement houses in the financial sector. After taking a close look at blockchain technology, the company announced their first product trial: a new settlement system for the London gold market will be created. This announcement comes in the form of a partnership between US startup itBit and....
Post-trade settlement specialist Euroclear has co-authored a new report on how blockchain and distributed ledger technology can be adapted for capital markets. Written with management consulting firm Oliver Wyman, the report takes a positive stance on the technology, arguing it could eliminate delays and inefficiencies in capital markets. The publication follows news that Euroclear is working with its peers, including CME Group and the London Stock Exchange, on a consortium for post-trade settlement. Overall, the report recommends the industry take seven steps to realize the technology,....
Fintech company Paxos has partnered with the Euroclear team to bring blockchain-based gold settlement to the London Bullion Market. The project, called Euroclear Bankchain, aims to leverage blockchain technology to make post-trade settlement more efficient. London Bullion Market Will Get Its First Concrete Blockchain Use Case For Gold Settlement. Paxos....
Paxos, a Blockchain company formerly known as ItBit, announced its strategic partnership with Euroclear to deploy a Blockchain settlement service for gold markets. London Bullion Market integration. Euroclear, the world’s largest Belgium-based asset and securities settlement cooperative founded by J.P Morgan & Co., attended the SIBOS Annual Conference in Geneva, Switzerland with Paxos to announce their joint project and explain the importance of a secure and efficient infrastructure in unsystematic gold markets. The Paxos-Euroclear gold market-focused Blockchain settlement solution....