Survey shows majority of market participants believe digital assets will replace fiat currencies within the next decade with custodians set for key role in the future.
The experiment focused on the entire life cycle of securities, from issuance and registration in the blockchain to secondary market operations’ settlement.
The test gives Euroclear a broad understanding into the running of an entire post-trade business on a blockchain platform.
The new unit, State Street Digital, will be led by well-known securities services veteran Nadine Chakar, and seeks to address the industry-wide shift to a digital economy.
It represents the market’s first multi-dealer led, primary issuance registration and settlement of digitally native tokens using public blockchain technology.
The remarks by the two custody giant CEOs follow the announcement of several initiatives by the two banks in the digital assets space this year.
Deutsche Boerse, Deutsche Bundesbank and Germany’s Finance Agency conduct DLT-based securities settlement in central bank money.
SIX and the Bank for International Settlements complete project to settle digital assets on a distributed ledger with central bank money.