MasterCard, Visa and other well-known American financial institutions explore tokenized asset settlement

2024-05-10 13:27:16

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ChainCatcher news, according to Bitcoin.com, several American financial companies are collaborating to test the advantages of shared ledger technology in the tokenization of assets such as commercial bank currencies and various securities. The initiative is called the Regulated Settlement Network, which is a proof of concept aimed at accelerating and securing cross-border transactions using a single system for tokenized assets.

This trial is an extension of a 12-week experiment conducted at the end of 2022, which focused on domestic interbank and cross-border dollar transactions. Participants in this new phase include well-known financial entities such as Mastercard, Citigroup, JPMorgan, US Bancorp, Wells Fargo, Visa, Swift, TD Bank, and Zions Bancorp.

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