U.S. based popular forex exchange settlement giant CLS’ blockchain payment netting service has launched its platform, according to the company’s press release that was published on November 28.
It was also stated that the service was build in conjunction with tech giant IBM and that it has among the initial users such famous companies as Goldman Sachs, JPMorgan, Barclays, and Citigroup.
The identity of the other clients lined up to use the blockchain payment netting service, which aids cashflow stability by grouping multiple payments together ahead of time, has not been revealed.
CLS’s bilateral payment netting solution is built on a distributed ledger technology (DLT) platform that allows users to drive operational process efficiencies, such as optimizing intraday liquidity, enabling real-time awareness of currency and counterparty exposures, and reducing risk.
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