CLS Teams with IBM in Blockchain Ecosystem

Foreign exchange settlement institution CLS Group is collaborating with IBM to enable banks, buy- and sell-side firms, fintechs and software vendors to deploy, share and consume services using distributed ledger technology (DLT). The hosted platform, LedgerConnect, will allow access to services in areas such as, but not limited to, know-your-customer (KYC) and sanctions screening, collateral management, derivatives post-trade processing and reconciliation, and market data.

“By hosting these services on a single, enterprise-grade network and DLT infrastructure, organizations can focus on business objectives rather than building and operating the underlying infrastructure, enabling them to realize operational efficiencies and cost savings,” CLS said in a July 30 announcement.

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Blockchain Intelligence Group | GARP