U.S. financial industry giants join forces to explore shared ledger technology

ChainCatcher News, major financial firms in the U.S. are jointly exploring shared ledger technology, with the Innovation Center of the Federal Reserve Bank of New York serving as a technology observer.

It is understood that major financial services companies such as Citibank, JPMorgan Chase, Mastercard, SWIFT, and Deloitte are jointly exploring shared ledger technology by simulating multi-asset transactions in U.S. dollars. The research project is named "Regulatory Settlement Network (RSN) Proof of Concept (PoC)," which will explore the potential of bringing commercial bank money, wholesale central bank money, and securities such as U.S. Treasury bonds into a common regulatory space. As of now, participants in the project have not committed to any future research phases after the completion of the first phase.