Reuters
Euroclear joins bank-backed blockchain payment system
Securities settlement house Euroclear said on Monday it had joined a consortium of banks building a payment system for tokenised assets in the latest sign of established institutions teaming up with newcomers in crypto tech. Belgium-headquartered Euroclear said it had bought a small stake in the three-year old consortium Fnality as it moves deeper into distributed ledger technology (DLT) or blockchain, the technology which underpins cryptoassets like bitcoin. Euroclear which settles stock and bond trades, the final leg of a transaction where cash is swapped for legal ownership of an asset, said the aim was to settle tokenised assets, or digital securities, against digital cash on DLT in a faster and more efficient way.
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