Custodian Bank Completes Blockchain Test to Streamline Securities Lending
State Street Corp., a global financial holding company, has completed a 7-month blockchain test to streamline the securities lending process which it is considering deploying in 2017, Hu Liang, senior managing director of the Emerging Technologies Center at State Street, told Reuters. State Street is among several financial institutions to test blockchain technology and to consider deploying it in the near term. Blockchain Improves Lending. The blockchain system State Street has tested would transform the collateral posted by an investor to borrow securities from State Street’s clients....
Related News
R3CEV, the blockchain startup leading a consortium of more than 40 international financial institutions, has announced the completion of a test involving 11 members of the group. Barclays, BMO Financial Group, Credit Suisse, Commonwealth Bank of Australia, HSBC, Natixis, Royal Bank of Scotland, TD Bank, UBS, UniCredit and Wells Fargo were involved in the experiment, the first by the group to be revealed to the public. The startup said that the test involved a distributed ledger based on the public Ethereum network but that was hosted on a private network on the Microsoft Azure platform,....
The Bank of France has successfully completed an experiment involving the use of CBDC to settle listed securities. The test has been carried out with the help of an alliance of partners led by SEBA Bank, a digital asset banking provider based in the Swiss crypto valley. Central Bank and Crypto Company Conduct Successful CBDC Test As part of a program launched in March 2020, central bank digital currency (CBDC) has been used to simulate the settlement of listed securities, Bank of France announced in a press release published Monday. On June 18, the regulator simulated the issuance of CBDC....
In its New York subsidiary, the U.S. Federal Reserve (Fed) completed the first test of Project Cedar, the initiative testing a central bank digital currency (CBDC). The New York Innovation Center (NYIC) carried out this first phase and highlighted the potential for digital assets and blockchain technology to improve legacy payment rails. Related Reading: Twitter […]
For Germany’s central bank, blockchain has proven to be a promising – if not somewhat complicated – technology. In late November, the Deutsche Bundesbank announced that it was working with exchange operator Deutsche Börse on a securities trading trial, using blockchain as a means of exchanging digitized securities, while also creating a record of those transactions. At the time, the central bank described the test as "purely a conceptual study". New comments from Bundesbank executive board member Carl-Ludwig Thiele have shined a light on some of the results from that test. Thiele....
The Central Bank of Bahrain (CBB), working in partnership with Bank ABC, recently announced it had successfully tested the transfer of funds across borders using JPMorgan’s JPM Coin. The test fulfills the central bank’s goal of creating safe and efficient settlement solutions for customers.
Eliminating Inefficiencies in the Cross-Border Payment Arena With CBDCs
Bahrain’s central bank recently said it had piloted its first cross border funds transfer using the JPMorgan blockchain. The transfer, which was carried out in partnership with Bank ABC, is the latest....