The European Central Bank (ECB) has stated that blockchain technology lacks the necessary maturity to be part of its market infrastructure.
Qatar-based Commercial Bank has carried out a pilot using blockchain technology to complete international fund transfers with partner banks and now plans to extend its testing to trade finance.
The Hong Kong Monetary Authority (HKMA) has teamed up with local banks and the R3 consortium to explore the creation of a central bank digital currency.
Larry Thompson, vice chairman of the US Depository Trust and Clearing Corporation (DTCC), has made a rallying call for the development of standards in propelling the uptake of distributed ledger technology in financial markets, arguing that a lack of co-ordination and collaboration may only further complicate existing market structures.
Canada's TMX has developed an electronic shareholder voting system prototype based on distributed ledger technology.
An R3 academic paper on central bank digital currencies (CBDCs) investigates the relative merits of a public network-based retail Fedcoin option and the private, permissioned wholesale CAD-coin alternative.
Vendor Synaps Loans and a group of banks working under the R3 blockchain banner, say they have made big progress in an initiative to apply distributed ledger technology to an overhaul of the antiquated and costly manual intervention in the $3 trillion global syndicated loans market.
Commodities trading house Trafigura and French bank Natixis are working with IBM to test the use of blockchain technology for settling US crude oil transactions.
Billon, a Polish e-money transfer startup backed up by distributed ledger technology, is set to enter the UK market having completed a successful trial of a corporate payout system with consumer research firm Conduct Research.
Nordic payments processor Nets is enlisting the help of distributed ledger technology specialist Chainalysis to help it ensure virtual currency transactions comply with anti-money laundering rules.
© Finextra Research 2017