- DTCC to use blockchain-based tracking system. The Depository Trust & Clearing Corp. (DTCC) announced that it will implement a new blockchain-based tracking system to monitor “credit derivatives payouts between big banks.” IBM will lead the project, described by DTCC chief executive Michael Bodson as a “tangible step into . . . a very different future for Wall Street.”
- SWIFT developing blockchain app for cross-border payments. The Society for Worldwide Interbank Financial Telecommunication’s (SWIFT) new initiative is designed to “synchronize [its] databases in real-time, so that banks can optimize their liquidity globally.” SWIFT hopes blockchain may help eliminate the need for “nostro” accounts, freeing up members’ cash.
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