Fnality Venture Funds Euroclear To Embrace Strategy For Digital Ledger Techno...
From its advent, the breakthrough of cryptocurrency that has aided its adoption is the decentralized characteristic. This removes the control of crypto activities from the influence of third parties, unlike what is obtainable in the centralized space. One of the recent measures that enforce decentralization is digital ledger technology. It involves using technological protocols that […]
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The firm claims to have settled nearly 1,000 trillion euros worth of securities transactions last year. On Monday, Euroclear, a securities clearing firm that claims it has over 37.6 trillion euros in assets under custody, announced an investment into Fnality, a consortium of financial institutions focused on the regulated adoption of tokenized assets and marketplaces, for an undisclosed amount. Meanwhile, Euroclear is also focusing on developing its distributed ledger technology, or DLT, to settle digital securities against digital cash through the partnership. The solution aims to....
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....
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,....
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....
A group of global banks and financial institutions has completed the first pilot of a new blockchain-based gold trading platform. In total, 600 test bullion trades were settled on a platform being developed by Euroclear in partnership with blockchain startup Paxos. The group of financial institutions included Société Générale, Citi, Scotiabank, among other banks. Transaction settlement service Euroclear first disclosed that it was working on the initiative earlier this year. The project is aimed at providing faster settlement and cheaper services for unallocated gold on the London bullion....