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LianLian Global offers a comprehensive suite of services designed to facilitate international commerce. The company was an early adopter of distributedledgertechnology (DLT), teaming up in 2017 with Ripple Labs and pioneering blockchain-based remittances from Japan to Thailand and Vietnam.
The project tested the feasibility of conducting multilateral cross-currency transfers through the UDPN, involving both DistributedLedgerTechnology (DLT) and non-DLT-based CBDC technologies. The PoC explored two models.
This real-world proof-of-concept proves that Fnality can be used to make bilateral margin payments using the £FnPS, and marks the first instance of a fully regulated DistributedLedgerTechnology (DLT)-based payment system being used to settle margin for the purposes of real-world inter-bank derivative exposures.
The report emphasizes the need for integrated digital solutions and the importance of standards and interoperability. These challenges range from a longstanding reliance on paper to an increasingly fragmented technology landscape.
As regulations evolve to meet this demand, firms like R3 , the distributedledgertechnology (DLT) and services provider, are looking to make adoption as seamless as possible. R3 Digital Markets champions interoperability and ensures businesses are fully equipped to manage both digital and traditional assets effectively.
The firm is also an OEM partner in the SAP PartnerEdge Build program , which provides the tools and support to “facilitate building high-quality, disruptive applications focused on specific business needs, quickly and cost-effectively.” The program offers SAP technologies through one global OEM contract.
HSBC, Standard Chartered, and others belong to a range of consortia that have had successful pilots using distributedledgertechnologies (DLT) to process live trade finance transactions. In trade finance, banks facilitate international trade by providing financing to buyers and sellers. What’s ahead.
Esser highlighted three key areas with major opportunities for improvement in the credit union market, with CULedger finding blockchain a promising technology to address them. “Central banks have a lot of control in that [cross-border] process in terms of how it can be facilitated. credit union and an international credit union.”
This project aims to create a multi-central bank digital currency (CBDC) platform for instant cross-border payments and settlements, leveraging distributedledgertechnology (DLT). This allows it to serve as a testbed for additional technology solutions and interoperability with other platforms.
Additionally, game and VR engine maker Unity has announced a partnership with Autodesk to increase interoperability. Similarly, Apple has imagined AR/VR facilitating the design process in combination with 3D printing. Autodesk’s game engine, called Stingray, has added support for the HTC Vive and Oculus Rift headsets.
The Securities and Exchange Commission (SEC) of Thailand is set to introduce a debt instrument trading system powered by distributedledgertechnology (DLT) to encourage securities firms to engage in digital token trading while enhancing regulatory oversight in the digital era.
The European Central Bank (ECB) is developing a new platform to settle transactions using distributedledgertechnology (DLT) in central bank money, aiming to integrate and harmonise the European financial market for digital assets.
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