Credit Suisse Group and Dutch bank ING Groep NV today announced they successfully completed a €25 million ($30.48 million) securities lending transaction using blockchain-based software created by blockchain consortium R3.
The application was built on R3’s Corda distributed ledger platform and in collaboration with financial resource management firm HQLAX.
In a statement released today, Romain Dumas, Head of Rates Repo and Collateral Optimization at Credit Suisse Securities (Europe) Limited, said:
The success of this first live transaction speaks to the potential for blockchain technology to help improve collateral fluidity by creating a more efficient, transparent, and cost effective marketplace for liquidity transfers.
Read more at Credit Suisse and Coindesk.
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