Blockchain-Based FX PvP Settlement Solution Tested by DBS, JP Morgan, and Mizuho
CryptoNewsTerminal Staff05 Jul, 2024
Blockchain-Based FX PvP Settlement Solution Tested by DBS, JP Morgan, and Mizuho
DBS Bank, JP Morgan, and Mizuho Bank have successfully completed a proof-of-concept for a blockchain-based foreign exchange (FX) payment versus payment (PvP) settlement solution, as reported by Ledger Insights. The solution aims to provide instant 24/7 cross-border payments, leveraging blockchain technology for secure and efficient transactions. Partior, a distributed ledger settlement solution provider, played a pivotal role in developing and testing the solution. Partior counts Standard Chartered and Temasek as founding members alongside JP Morgan and DBS. The successful testing marks a significant step towards unlocking the potential of blockchain in revolutionizing global payment systems.
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