Swift Says Hackers Can Unite Banks and Blockchain Disruptors
Long a target of blockchain disruptors, the ultimate banking middleman, Swift, is looking to re-position itself as part of the fight against hackers.
CLS, the bank-owned currency trading utility, and IBM have gone live with their blockchain-based payment netting service after more than two years in development.
Announced Monday, LedgerConnect is the offspring of bank-owned currency trading utility CLS and enterprise software giant IBM.
Forex giant CLS is now using a blockchain to handle certain currency trades, but the technology is “not essential” for the task, an executive admits.
U.S.-based FX settlement provider CLS has made a $5 million investment in blockchain software startup R3.
Barclays has become the latest major financial institution to join the foreign exchange-focused blockchain consortium CLS.