Credit Suisse and Nomura made same-day equity trade settlement on Paxos DLT platform

Theasianbankersg05 May, 2021Finance

Credit Suisse and Instinet, a Nomura company, recently conducted a test on Paxos, a regulated blockchain platform, to show that distributed ledger technology (DLT) can shorten the time frame for settlements. The proof-of-concept (PoC) was designed around a bilateral equity trade in the US and transactions executed at 11:00 AM and 3:00 PM were settled on the same day, at 4:30 PM. Charles Cascarilla, CEO at Paxos, noted, ?The use of DLT can imply 70% cost-cutting for banks?.