Close Menu
Nabka News
  • Home
  • News
  • Business
  • China
  • India
  • Pakistan
  • Political
  • Tech
  • Trend
  • USA
  • Sports

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

Pakistan, Turkiye weigh aerospace partnership

July 10, 2025

Williamson still wants to play for NZ, says coach – Sport

July 10, 2025

Seed technology drives cotton mechanization in China’s Xinjiang-Xinhua

July 10, 2025
Facebook X (Twitter) Instagram
  • Home
  • About NabkaNews
  • Advertise with NabkaNews
  • DMCA Policy
  • Privacy Policy
  • Terms of Use
  • Contact us
Facebook X (Twitter) Instagram Pinterest Vimeo
Nabka News
  • Home
  • News
  • Business
  • China
  • India
  • Pakistan
  • Political
  • Tech
  • Trend
  • USA
  • Sports
Nabka News
Home » US financial giant tests shared ledger technology
Tech

US financial giant tests shared ledger technology

i2wtcBy i2wtcMay 8, 2024No Comments3 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp Copy Link
Follow Us
Google News Flipboard Threads
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link


The US financial system is considering the use of shared ledger technology for multi-asset transactions.

The project will involve a number of prominent financial institutions (FIs) managed by the Securities Industry and Financial Markets Association (SIFMA), including Visa, Mastercard, Citi and JP Morgan.

“In the current financial system, commercial bank money, wholesale central bank money, and securities such as U.S. Treasuries and investment grade bonds all exist in separate systems,” SIMFA said in a news release on Wednesday, May 8. Stated.

“Tokenization of these instruments has the potential to enable payments in a common regulated venue established under existing legal frameworks.”

To explore this possibility, financial institutions will explore the feasibility of shared ledger technology to settle tokenized commercial bank money, wholesale central bank money, and U.S. regulated payment networks. (RSN), the association added. Treasury bills and other tokenized assets.

Raj Damodaran, Executive Vice President of Blockchain at Mastercard, said: “As blockchain technology continues to mature, public and private organizations will need to work closely together to solve real-world problems and improve efficiency. It will be important to consider how blockchain can be applied to and digital assets, it said in a statement to PYMNTS.

“Applying shared ledger technology to dollar payments could open the door to a next-generation market infrastructure where programmable payments can occur seamlessly 24/7,” Damodaran added.

In other areas of blockchain, PYMNTS recently explored the technology through the lens of real-world asset tokenization (RWA).

“Tokenized RWA has the potential to increase asset liquidity, accessibility, and efficiency while enhancing transparency, security, and global reach,” the report said.

“Representing RWA on the blockchain changes the way asset ownership is recorded and enables new functionality.”

However, PYMNTS writes that tokenization of RWA has yet to take off in earnest, in part due to the lack of broadly interoperable infrastructure across the private and public payments sectors.

“The true intrinsic value of blockchain, such as transaction programmability, transaction immutability, delivery and payment, and the ability to make always-on type payments, remains to be discovered,” said Mastercard Chief Digital Officer. Joan Lambert told PYMNTS. last summer.

“Until we can actually develop financial regulated applications on blockchain, the benefits will never become mainstream,” Lambert said. “Regulated financial institutions are [tokenized blockchain money movement vehicles] To really scale. ”

See more: Banking, Banking, Blockchain, Citi, JPMorgan Chase, Mastercard, News, PYMNTS News, Securities Industry and Financial Markets Association, Shared Ledger Technology, Technology, Tokenization, Visa, Latest News



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp Copy Link
i2wtc
  • Website

Related Posts

Tech

Bitcoin rises to fresh record above $112,000, helped by Nvidia-led tech rally

July 10, 2025
Tech

Amazon Web Services builds heat exchanger to cool Nvidia GPUs for AI

July 9, 2025
Tech

Linda Yaccarino steps down as CEO of Elon Musk’s X

July 9, 2025
Tech

Altman, Iger and Cook arrive at ‘summer camp for billionaires’

July 9, 2025
Tech

Online sales reach $7.9 billion in first 24 hours of Prime Day

July 9, 2025
Tech

Perplexity launches AI-powered web browser for select subscribers

July 9, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Pakistan, Turkiye weigh aerospace partnership

July 10, 2025

House Republicans unveil aid bill for Israel, Ukraine ahead of weekend House vote

April 17, 2024

Prime Minister Johnson presses forward with Ukraine aid bill despite pressure from hardliners

April 17, 2024

Justin Verlander makes season debut against Nationals

April 17, 2024
Don't Miss

Trump says China’s Xi ‘hard to make a deal with’ amid trade dispute | Donald Trump News

By i2wtcJune 4, 20250

Growing strains in US-China relations over implementation of agreement to roll back tariffs and trade…

Donald Trump’s 50% steel and aluminium tariffs take effect | Business and Economy News

June 4, 2025

The Take: Why is Trump cracking down on Chinese students? | Education News

June 4, 2025

Chinese couple charged with smuggling toxic fungus into US | Science and Technology News

June 4, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

About Us
About Us

Welcome to NabkaNews, your go-to source for the latest updates and insights on technology, business, and news from around the world, with a focus on the USA, Pakistan, and India.

At NabkaNews, we understand the importance of staying informed in today’s fast-paced world. Our mission is to provide you with accurate, relevant, and engaging content that keeps you up-to-date with the latest developments in technology, business trends, and news events.

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

Pakistan, Turkiye weigh aerospace partnership

July 10, 2025

Williamson still wants to play for NZ, says coach – Sport

July 10, 2025

Seed technology drives cotton mechanization in China’s Xinjiang-Xinhua

July 10, 2025
Most Popular

Defense secretaries of the United States, Australia, Japan and the Philippines pledge to deepen cooperation

May 3, 2024

Philippines, US open fire on ‘invading’ forces in South China Sea war games

May 6, 2024

Xi Jinping praises Hungary’s ‘independent’ foreign policy ahead of Orbán meeting

May 8, 2024
© 2025 nabkanews. Designed by nabkanews.
  • Home
  • About NabkaNews
  • Advertise with NabkaNews
  • DMCA Policy
  • Privacy Policy
  • Terms of Use
  • Contact us

Type above and press Enter to search. Press Esc to cancel.