Euroclear push forward with building a pilot blockchain-based platform

Euroclear, one of the world’s largest securities depositories, says it will push forward with building a pilot blockchain-based platform for the issuance and settlement of European commercial paper (ECP). The news was reported by EuroClear on June 19.

Euroclear settled €791 trillion ($885.48 trillion) in securities transactions and held an average of €28.8 trillion ($32.24 trillion) in client assets in 2018, according to results published this March.

The financial services titan has today revealed that it successfully completed a proof-of-value study for an ECP-focused blockchain platform together with the European Investment Bank, Spain’s Santander and “Big Four” auditor EY.

Reference: https://cointelegraph.com/news/euroclear-eib-santander-and-ey-to-pursue-blockchain-pilot-for-ecp-settlement

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Author: Neo Anderson

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