Every week now brings another announcement from the banking industry of a new distributed-ledger initiative seeking to transform the core operations of the global financial system.
At Sibos in Toronto last week, for example, IBM unveiled a new blockchain banking solution designed to reduce settlement times and costs for banks in processing cross-border payments.
The technology firm is partnering with Silicon Valley based Stellar.org and KlickEx, a New Zealand-based foreign exchange processing platform focused on often illiquid south Pacific cross-border payment corridors.
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