Swiss Credit Suisse and Amsterdam-based ING Group announced they have successfully transferred a € 25m worth of financial products. with each other through block technology. The operation was performed using a R3 Corda block using an application created by HQLAX.
This is not the first block interbank test, but the new one here is that the technology allows settlement of the transfer of assets to be instantaneous.
Romain Dumas, Head of Repos Transactions at Credit Suisse Securities (Europe) Limited, said: "The success of this first real-time transaction talks about the bloc's potential for a transparent and more cost-effective market for transfers,
Source: Finance Magnates
Jr Trader Petar Milanov
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