SWIFT Aims to Test Tokenization in 2022, Clearstream, Northern Trust, SETL to...
SWIFT, the Belgian-based cooperative that serves as an intermediary and settlement executor of financial transactions between banks worldwide is planning to experiment with asset tokenization in 2022. In a blog post about the subject, SWIFT notes that it will be working with firms like Clearstream, Northern Trust, and SETL to explore “the feasibility and benefits” of using SWIFT as an interconnector to tokenization platforms. Financial Intermediary SWIFT to Be Used as a Tokenization Interconnector The Society for Worldwide Interbank Financial Telecommunication....
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"For CBDCs, our solution will enable central banks to connect their own networks simply and directly to all the other payments systems in the world through a single gateway," said chief information officer Tom Zschach. On Wednesday, the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, announced that it has successfully moved central bank digital currencies (CBDCs) and tokenized assets on existing financial infrastructure through two separate experiments. According to SWIFT, the results demonstrated that "CBDCs can be rapidly deployed at scale to facilitate trade and....
Back in January, Chicago-based asset management firm Northern Trust was part of a group of international financial institutions to complete a blockchain test with the R3CEV banking consortium. The firm, which has $900bn in assets under management, has since gone on to replicate that test for an internal proof-of-concept, and added three new proofs-of-concept to its ongoing body of work centered on the technology. While Justin Chapman, global head of process management for the firm, says the proofs-of-concept are part of a larger effort to meet both internal and customer demands, he....
SETL today announced that it has successfully established a test network and has broken the 1 billion transactions-per-day capacity barrier for blockchain movements. For a company that calls itself an initiative to deploy a multi-asset, multi-currency institutional payment and settlements infrastructure based on blockchain technology, this indeed is big news. In the press release issued to the media, SETL also revealed that it has successfully also developed novel techniques, which allow it to process transactions in a parallel and effectively remove practical constraints on volume.....
Blockchain platform Setl has appointed former executive director of the Bank of England Sir David Walker as its new chairman. A financial markets veteran, Sir Walker has also served as chairman of Barclays, Morgan Stanley International and the Securities and Investment Board. He is also a senior member of the G30 group, which elaborates and promotes progress in international payments and settlements. Prior to his career in financial markets, Sir Walker was the assistant secretary to the Treasury for the UK government. Speaking about his upcoming role at Setl, Sir Walker said in a....
Comment added from Setl CEO Anthony Culligan. Blockchain platform Setl claims it is now capable of processing 1 billion transactions per day, a figure it terms a "milestone" for scaling the technology. The firm, which is building a private network of distributed ledgers that can settle cash and assets in real time, says its testnet can now match the volume of non-cash electronic payments made globally. When announced in July, Setl's network was handling 5,000 transactions per second, which amounts to 432 million a day. The company said in a release: "By exceeding 1 billion transactions per....