Goldman and Morgan Stanley go live with DLT-based CLSNet

Distributed ledger netting service will cover 120 currencies not eligible for CLS settlement

Cool connections: CLSNet is a testament to the ongoing maturity of blockchain technology and the value it can deliver, says Marie Wieck

Foreign exchange settlement infrastructure firm CLS has launched its distributed ledger-based bilateral payments-netting service, CLSNet, with Goldman Sachs and Morgan Stanley among the first adopters.

The two US firms are joined by Bank of China (Hong Kong) and five other banks.

Unveiled in late 2016, CLSNet is a bilateral payments-netting solution for currencies ineligible for settlement through CLS’s main settlement service, CLSSettlement.

Twenty-four currencies were initially planned to

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