We’re at an intersection between the old world of finance and the new era of blockchain-enabled innovation. Blockchain in finance and banking can yield numerous benefits to society such as increased trust, transparency, efficiency and the inclusion of the many unbanked people into the financial system.
- Clearing and Settlement
- Trade Finance
- Cross Border Payments
- Santander has launched an app called One Pay FX that uses distributed ledger technology to allow customers to send international money transfers in near real time.
- JP Morgan’s JPM Coins has built instant payments using blockchain. It will be used to transfer money between JP Morgan accounts held by other institutions such as banks, broker-dealers and corporates.