Banks complete blockchain trial for fixed-income products
With the aim of moving forward the banking industry's adoption of the technology
Forty of the largest banks have completed a trial using blockchain technology, testing the viability of trading fixed-income products in what is understood to be the biggest real-world application of distributed ledgers in financial markets.
The initiative saw financial innovation firm R3 connect participating banks to five different ledgers, allowing them to trade mock fixed-income products, as well as testing issuance, secondary trading and redemptions.
"This development further supports R3's
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