Exploring Distributed Ledger Solutions for Settlements: Mastercard, Citi, JPMorgan, and Visa Collaborate on Regulated Settlement Network

Wednesday, 8 May 2024, 16:03

Mastercard, Visa, JPMorgan, and Citigroup are revolutionizing settlements through the Regulated Settlement Network, leveraging Distributed Ledger Technology. This collaborative effort integrates various financial elements to enhance efficiency and is endorsed by the Federal Reserve Bank of New York. The initiative aims to simplify and secure the settlement process, potentially reshaping the future of financial markets.
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Exploring Distributed Ledger Solutions for Settlements: Mastercard, Citi, JPMorgan, and Visa Collaborate on Regulated Settlement Network

Overview:

In a groundbreaking move, Mastercard, Visa, JPMorgan, and Citigroup have united to launch the Regulated Settlement Network (RSN) to explore distributed ledger solutions for settlements.

Collaborative Effort:

The RSN integrates commercial bank money with securities like US Treasuries to create a more interconnected financial ecosystem through Distributed Ledger Technology.

Endorsed by Federal Reserve:

The initiative has received backing from the New York Innovation Center of the Federal Reserve Bank of New York, highlighting the potential impact on market infrastructures.

Innovation and Efficiency:

The project aims to streamline settlements, reduce errors and fraud, and strengthen the financial infrastructure against operational inefficiencies.

Rising Blockchain Spending:

Financial players' involvement in exploring blockchain solutions reflects the growing trend, with forecasts predicting significant growth in blockchain spending by 2024.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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