On Monday, securities clearing firm Euroclear, which claims more than €37.6 trillion in assets under custody, announced an undisclosed investment in Fnality, a conglomerate of financial institutions focused on the regulated adoption of tokenized assets and markets . Meanwhile, Euroclear is also focused on developing its distributed ledger technology (DLT) to settle digital securities with digital cash through the partnership.
The solution is designed to increase the speed and efficiency of post-trade operations, such as market issuance, collateral transactions and interest payment services. Fnality International, founded in 2019, said it sought to improve the efficiency of central bank payment settlements. Its major shareholders include Barclays, CIBC, Credit Suisse, ING, Mizuho, Nasdaq and UBS. Regarding this development, FnalityInternational CEO Rhomaios Ram said:
"We welcome Euroclear Group to the Fnality International group as an investor, which will significantly enhance the diversification of the Fnality network and expand our footprint in the financial market infrastructure space."
Meanwhile, Lieve Mostrey, CEO of Euroclear Group, added: “We are delighted to be working with Fnality and our clients to create solutions for wholesale digital cash and digital securities settlement for the benefit of the entire industry.” Previously, Euroclear had In partnership with the Banque de France, led an experiment with a central bank digital currency (CBDC), settling French government bonds with DLT. Euroclear Group settled securities transactions equivalent to EUR 992 trillion in 2021 through 295 million trades.
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