Rabobank has completed a series of pilot projects to conduct commercial paper transactions worth more than 2 billion euros on the Ubermorgen blockchain platform.
The platform provides financial market participants with instant access to funds through the automated issuance of commercial papers and certificates of deposit.
For the trial run, Rabobank Markets and Ubermorgen worked with Rabobank Treasury, TreasurySpring and two major asset managers and executed multiple commercial paper and term deposits in EUR, USD and GBP with a total face value of over two billion.
Henry Adams, Chief Product Officer at TreasurySpring, comments: “The transition to T0 and instant settlement represents a significant milestone in the evolution of capital markets while reducing credit risk in the financial system.” Particularly for several regulated sectors within our customer base where the While number of days is critical, there is immediate value that we would like to capture on their behalf.”
The pilot also integrated analytical tools that provided market participants with real-time insights into money market trends.
Jacek Wieclawski, Head of Innovation at Rabobank, says: “The hybrid approach, global and instant interoperability is the future of finance.” Our customers have shared their excitement about this new solution that combines the best of both worlds – speed and flexibility a distributed ledger technology and the reliability and compliance of a centralized system.”
Consumer expectations are rapidly changing the way banks operate. What challenges do banks face…
Voice cloning, in which fraudsters use AI technology to imitate the voice of a friend…
Banks in Singapore will gradually implement Singpass Face Verification (SFV) over the next three months…
Indian digital lending app mPokket will hire 5,000 new employees in the coming year, more…
Following the collapse of fintech company Synapse, a US regulator has unveiled plans to tighten…
Ahead of Sustainable Finance.Live 2024, Richard Peers, founder of Responsible Risk, discusses the event's focus…
This website uses cookies.