Capital Markets & Exchanges
Government & Regulator
In today’s fast-paced and constantly evolving industry landscape, there are several innovative technologies, such as Blockchain and Digital Assets, disrupting the market.
The Blockchain technology market size is valued at more than USD 7 billion in 2022 and is expected to increase to USD 164 billion by 2029. Major players operating the blockchain technology market worldwide are mainly in the U.S, such as Coinbase, IBM, and Ripple, etc, while there is also a growing adoption in other countries.
Browse through our updated list of the Blockchain and Digital Asset projects to understand why it is important in the industry!
Blockchain projects are a set of decentralised ledger applications which leverage this technology to make processes more efficient, transparent, secure and scalable. These applications can range from financial services all the way to supply chain management and ESG/sustainability.
Digital Asset projects refer to any project related to digital assets, which are electronic data files that can be owned, transferred, and used as a currency for transactions or as a means of storing intangible content.
Click on the + icon to view the description and more information about the project.
|Name||Country||Sector||Activities||Type of Project||Objectives||Description||Stakeholders||Organisation Type||Status||Technology||Technology Provider||Link||Last updated||Quality of Information||Logo Link|
|AAVE||Global||Capital Markets and Exchanges||Customer-facing, Infrastructure||Cryptocurrencies, DEX||AAVE aims to provide a transparent platform for lenders to loan out their crypto and earn interest on||AAVE is an Ethereum-based protocol that offers automated crypto loans. Users can deposit cryptocurrency as collateral and borrow other cryptocurrencies, up to a certain percentage of the collateral value. AAVE uses smart contracts to automate the process, with preset rules on how funds are distributed, how collateral is handled, and how fees are assessed||AAVE||Fintech||Launched||Ethereum||AAVE||View project||27/02/2023||Medium|
|AntChain||Global||Corporate Finance, Retail Finance, Capital Markets and Exchanges, Investment, Insurance, Non-Financial||Customer-facing, Infrastructure, Compliance and Risk||Smart Contract, Distributed Blockchain Network, Settlement, Logistics Tracking, Assets Tokenisation, Shared Events Database, Shared Records Database, Document Authentication||AntChain aims to develop mutual-trusted, high-efficiency technical solutions for the industrial internet, and to support industry collaboration and value creation.||AntChain is the blockchain technology arm of Ant Group, one of the largest tech conglomerates in China and the world. Antchain provides a vast number of Blockchain services through its partnerships. At the moment, their services are mainly on the infrastructure end of blockchain, providing Blockchain-as-a-Service (BaaS) and their Morse MPC platform which uses cryptography, multi-party computation technology, and privacy protection technology to enable secure computation in a local box, ensuring that all data cooperative parties can share data while keeping their original data private. AntChain services range vastly from copyright services to trade services and eKYC to even the country's digital yuan.||Ant Group||Financial Institution||Launched||AntChain||Ant Group||View project||08/03/2023||Medium|
|Binance Smart Chain (BNB Chain)||Global||Retail Finance, Investment, Non-Financial||Infrastructure||Smart Contract, Distributed Blockchain Network||BNB Chain aims to provide much faster transaction speeds compared to existing transactions as well as comparitively lower fees. It also aims to increase interoperability and develop the underlying infrastructure of the "world’s parallel virtual environment".||Build N Build (BNB) Chain is a distributed blockchain network upon which developers and innovators can build decentralized applications (DApps) as part of the move to Web3. BNB Chain is permissionless, decentralised, open and on multichain. Large-scale applications like SocialFi, GameFi and the Metaverse will also be embraced by BNB Chain. While BNB Chain was created by Binance, it is important to note that BNB Chain is a decentralized blockchain ecosystem which binance has no control over.||Binance||Fintech||Launched||BNB Chain||-||View project||27/02/2023||Medium|
|Blackrock x Coinbase||Global||Corporate Finance, Investment, Capital Markets and Exchanges||Customer-facing, Infrastructure||Custodian Services, Cryptocurrencies, Crypto Trading||To allow clients to manage their bitcoin exposures directly in their existing portfolio management and allow for better risk assessment of their entire portfolio which includes digital assets||BlackRock has partnered with Coinbase Global to allow the firm’s institutional clients to have access to bitcoin trading, custody, prime brokerage, and reporting via Coinbase Prime. The clients will also be able to manage their bitcoin and conduct risk analysis using BlackRock’s software suite Aladdin. The move came as institutional clients were increasingly interested in gaining exposure to digital asset markets and were focused on how to efficiently manage the operational lifecycle of these assets||BlackRock, Coinbase||Financial Institution, Startup||Launched||Aladdin, Coinbase Prime||BlackRock, Coinbase||View project||13/03/2023||Medium|
|BNP Paribas tokenised US government Bonds||United States||Corporate Finance, Capital Markets and Exchanges||Customer-facing, Compliance and Risk||Bond Tokenisation||To provide better transparency with immutability on contracts||BNP Paribas has teamed up with J.P. Morgan’s Onyx Digital Assets blockchain platform. The collaboration is a part of a strategized step that will allow BNP Paribas to deploy fixed-income assets tokenized copies for short-term transactions. As a part of this collaboration, BNP Paribas can stake its own bonds for a few hours before repurchasing them at a slightly higher rate. Essentially, BNP Paribas will be authorized to lend tokenized US government bonds for a few hours without the assets altering their transaction records. Treasury bonds are represented by the digital tokens exchanged on Onyx Digital Assets.||BNP Paribas, JP Morgan||Financial Institution||Launched||Onyx||JP Morgan||View project||27/02/2023||Medium|
|BNY Digital Asset Custody||United States||Retail Finance, Corporate Finance||Customer-facing||Cryptocurrencies, Custodian Services||To allow clients to store their digital assets in a secure and trusted location||The Digital Asset Custody platform is live in the U.S. with select clients now able to hold and transfer bitcoin and ether. The firm tapped digital asset technology specialists Fireblocks and Chainalysis to integrate their technology in order to meet the present and future security and compliance needs of clients across the digital asset space.||BNY Mellon, Chainalysis, Fireblocks||Financial Institution, Fintech||Launched||Fireblocks, Chainalysis||Fireblocks, Chainalysis||View project||27/02/2023||Medium|
|Carbonplace||United Kingdom||Non-Financial, Capital Markets and Exchanges||Environment Social and Governance||CEX, Carbon Credit Registry, Carbon Credit Tokenisation||To enable the accessibility, trust, and transparency required for the voluntary carbon market to scale and accelerate global climate action.||Carbon place acts as a carbon credit exchange facilitator with records registered on DLT. Buyers and sellers will be able to share information in real time to ensure an instant, secure and traceable settlement of transactions to buy, sell or redeem carbon credits. Digital wallets will allow the ownership of a credit to be reliably proven to the market, reducing the risk of double counting, and simplifying transparency. To prevent greenwashing, only carbon credits verified according to internationally-agreed standards will be processed on its platform.||CIBC, Itaú Unibanco, National Australia Bank, NatWest Group, UBS, Standard Chartered, BNP Paribas, SMBC, BBVA||Financial Institution||Launched||Ethereum||Consensys||View project||20/03/2023||Medium|
|Centre Network, which is also known as the CENTRE Consortium||United States||Retail Finance, Investment||Infrastructure||Stablecoin, KYC - Identity||To provide the governance and standards for the future digital financial ecosystem||Centre Network provides 2 products - stablecoin USDC and decentralized identity protocol Verite. The USDC aims to bring stability to crypto by pegging the stablecoin to the US Dollar and is solely issued by Circle. Verite aims to be a decentralized identity provider for crypto finance that brings trust, privacy, interoperability and risk mitigation to individuals and institutions who participate in the global crypto financial ecosystem. Verite provides secure, portable, privacy-preserving digital identity attestations, enabling such benefits as KYC compliance and lower DeFi collateral requirements without the need for participants to disclose personal data.||Circle, Coinbase||Fintech||Launched||Ethereum, Solana, Avalanche, TRON, Algorand, Stellar, Flow, Hedera||View project||27/02/2023||Medium|
|Chainalysis||Global||Corporate Finance, Government & Regulators||Compliance and Risk, Environment Social and Governance||Cryptocurrency, AML Transaction Analytics, Data Provider||Chainalysis aims to provide confidence and knowledge for the digital asset economy through transparency in transactions data||Chainalysis is a blockchain data platform providing data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries. Their data powers investigation, compliance, and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases and grow consumer access to cryptocurrency safely.||Chainalysis||Fintech||Launched||Chainalysis Reactor||Chainalysis||View project||27/02/2023||Medium|
|ConsenSys Codefi||Global||Corporate Finance, Capital Markets and Exchanges, Investment||Infrastructure||Staking, Asset tokenisation, Payments, Data Provider, Risk Analytics||Codefi Staking aims to eliminate the complicated technical and operational risks of staking such as the deposit process and continuous infrastructure maintenance against software failures, connectivity issues, key mismanagement, security vulnerabilities and transaction problems.||ConsenSys Codefi is a product suite utilising blockchain technology to optimise business processes and payments, digitise financial instruments, and build customised decentralised applications. The suite consists of 4 main products - Codefi Assets, Networks, Payments and Data, with ConsenSys Codefi as the blockchain operating system. Codefi Assets is a platform to create, issue, and manage the lifecycle of digital assets, associated markets, and digital financial instruments on public or permissioned blockchain networks. Codefi Payments acts as platform to send, receive, and manage cryptocurrency payments and revenue within a single dashboard. Codefi Networks leverages the growth of public blockchain networks by launching consumer utility tokens and aggregating decentralized finance functionality. Codefi Data is a data, analytics, and risk management engine for digital assets, public blockchain tokens, and their growing networks.||ConsenSys||Fintech||Launched||Codefi||ConsenSys||View project||27/02/2023||Medium|
|Contour (Originally Voltron)||Global||Corporate Finance||Infrastructure||Clearing and Settlement, Goods Payout Automation, Shared Historical Records Database||Contour aims to create a decentralised global trade finance network that enables everyone to collaborate seamlessly and securely in real time, on one common platfor, thereby producing a highly efficient, digital trade network that will reduce complexity, cost and optimise efficiency.||In 2017, Contour was established as a co-operative with R3 and eight banks, aiming to create a worldwide blockchain network and a digital application to digitize the $53 billion trade finance industry. Contour has entered the live production phase since October 2020 and has attracted members such as ING, Citi, CTBC, Standard Chartered, RBS, SEB, BNP Paribas, HSBC, and Bangkok Bank. During various trials, more than 80 banks and corporations have utilized Contour, simulating multiple digital Letter of Credit (LC) transactions in 27 countries spread across six continents.||BNP Paribas, Bangkok Bank, CTBC Holding, HSBC, ING, NatWest, SEB, Standard Chartered||Financial Institution||Launched||Corda||R3||View project||22/03/2023||Medium|
|Corda||Global||Retail Finance, Corporate Finance, Capital Markets and Exchanges, Investment, Insurance, Non-Financial||Infrastructure||DLT Infrastructure Provider||Corda aims to bring transactions directly into the business with the use of smart contracts' privacy features. It aims to connect networks, automate complex business processes, streamline workflows, drive faster settlement, and manage digital assets and currencies.||R3's Corda is a scalable, permissioned peer-to-peer (P2P) distributed ledger technology (DLT) platform that enables the building of applications that foster and deliver digital trust between parties in regulated markets. Corda has been used by major financial institutions and central banks around the world to build blockchain solutions ranging from digital assets to global trade.||R3||Fintech||Launched||Corda||R3||View project||27/02/2023||Medium|
|Curve||Global||Capital Markets and Exchanges||Customer-facing, Infrastructure||Cryptocurrencies, DEX, DAO||Curve Finance's mission is to allow the seamless exchange of pegged assets with low fees, low slippage, efficient trading, and low risks of non-pegged assets through its crypto pools.||Curve Finance is a decentralized exchange built with an automated market maker (AMM) architecture, optimizing the swapping of digital assets with identical pegs. Curve Finance became popular within DeFi as it favored stability and composability over volatility and speculation. It offers a highly efficient way to exchange tokens while maintaining low fees and low slippage by only accommodating liquidity pools made up of similarly behaving assets. While this approach results in lower fees for the liquidity providers who supply the pools with tokens, Curve incentivizes their participation by integrating with external DeFi protocols and delivering rewards in the form of CRV tokens and interest.||Curve||Fintech||Launched||Ethereum||Curve||View project||27/02/2023||Medium|
|Digital Dollar Project||United States||Government & Regulators||Infrastructure||CBDC, Cross-Border Payments||To support the USD as the world’s reserve currency, improves time & cost efficiencies, provide broader accessibility to central bank money & payments, emulate features of physical cash in an increasingly digital world||The Digital Dollar Project (DDP) was created to encourage research and public discussion on the potential advantages and challenges of a U.S. Central Bank Digital Currency (CBDC) — or a “digital dollar.” The DDP will identify options for a CBDC solution to help enhance monetary policy effectiveness and financial stability; provide needed scalability, security and privacy in retail, wholesale and international payments; and integrate with existing financial infrastructures, including U.S. Federal Reserve-related projects.||Accenture, Digital Dollar Project||Others||Research||View project||27/02/2023||Very High|
|Digital Pound||United Kingdom||Government & Regulators||Infrastructure||CBDC||To adapt to the way people pay is changing for the BoE to retain control over the pound.||The BoE is looking at the case for issuing a digital pound. A Consultation Paper has been published which explores the need for the digital pound and proposes a set of design choices for it.||Bank of England||Central Bank||Research||View project||20/03/2023||Medium|
|Digital Rupee||India||Government & Regulators, Retail Finance, Corporate Finance||Infrastructure||CBDC||The pilot will assess the stability of the complete creation, distribution, and retail use of digital rupees in real time. Based on the lessons learned from this pilot, other aspects and uses of the e-R token and architecture will be evaluated in further pilots.||The Reserve Bank of India (RBI) has announced the launch of the first retail digital Rupee (e₹-R) pilot on December 1, 2022. There are two categories of Central Bank Digital Currency: general purpose or retail (CBDC-R) and wholesale. Retail CBDC would be potentially available for use by all private sector, non-financial consumers and businesses while wholesale CBDC is designed for restricted access to select financial institutions.||RBI, State Bank of India, ICICI Bank, Yes Bank, IDFC First Bank, Bank of Baroda, Union Bank of India, HDFC Bank, Kotak Mahindra Bank||Central Bank||Pilot||Undisclosed||View project||27/02/2023||Very High|
|Digital Tenge (DT) Pilot Project||Kazakhstan||Government & Regulators||Infrastructure||CBDC||The main objectives of the 2021 Pilot Project were to test the Digital Tenge concept’s feasibility through experimental confirmation of the retail platform’s technological viability based on distributed ledger technology, as well as to determine the main parameters of the CBDC Model for Kazakhstan in cooperation with all stakeholders.||In 2021, the National Bank of the Republic of Kazakhstan implemented the Digital Tenge Pilot Project where the basic scenarios for the Digital Tenge life cycle were implemented from issuing and distribution to purchases and transfers via Digital Tenge. The project also tested the effects of DT on economic stability and risk on financial institutions. Upon the completion of the pilot project in 2022, the research confirmed that the digital tenge is a feasible project and is set to launch in 3 stages by 2025. The digital tenge will be the third form of the national currency of Kazakhstan along with cash and its cashless form and will become an additional digital payment instrument for business participants guaranteed by the National Bank of the Republic of Kazakhstan.||National Bank of Kazakhstan, IMF, BIS, Accenture, R3, Visa, Mastercard, CBDC Think Tank, Digital Euro Association, World Economic Forum||Central Bank, Government Entity, Fintech, Others||Concluded||Corda||R3||View project||07/03/2023||High|
|Distributed Ledger Repo||Global||Corporate Finance, Capital Markets and Exchanges, Investment||Infrastructure||Clearing and Settlement, Shared Records Database, Trade Messaging Network||To reduce operational risk and settlement cost for repurchase, or repo, agreements by providing a secure record of repo trade details, reducing the need for reconciliation and removing obstacles to straight-through processing||DLR provides a single platform where market participants can agree, execute and settle repo transactions. Furthermore, DLR allows for the immobilization of the underlying securities in the repo transactions, while transferring ownership via smart contracts executed on the platform. The platform’s functionality significantly reduces the operating cost and risk of all repo activity, including intraday, overnight and term repos, both on a bilateral and an intracompany basis and also reduces counterparty risk while increasing auditability. The DLR which uses Daml Smart Contract language by Digital Asset on the VMware Blockchain now processes $50 billiion daily, with banks like UBS and Societe Generale actively using the platform.||Broadridge||Financial Institution||Launched||VMware Blockchain, Daml Smart Contracts||VMware, Digital Asset||View project||13/03/2023||Medium|
|dYdX||Global||Investment, Capital Markets and Exchanges||Customer-facing, Infrastructure||Cryptocurrencies, DEX, DAO||dYdX aims to offer a different asset class to crypto trading - perpetual contracts, and at a faster and cheap price||dYdX is a leading decentralized exchange that currently supports perpetual trading. dYdX runs on smart contracts on the Ethereum blockchain, and allows users to trade with no intermediaries. Traders can trade perpetual contracts for no fees and up to 20x leverage||dYdX||Fintech||Launched||Ethereum||dYdX||View project||27/02/2023||Medium|
|DZ Bank Custodian Services||Global||Retail Finance, Corporate Finance||Customer-facing||Custodian Service||To provide a more efficient and cheaper platform for clients to invest directly into crypto assets||DZ Bank, Germany’s second largest by assets, has announced their collaboration with Metaco to use their Harmonize platform to provide digital asset custodian services to its clients. The move is driven by client demand, less so for cryptocurrency and more for digital financial instruments, although the solution will handle both.||DZ Bank, Metaco||Financial Institution||Launched||Harmonize||Metaco||View project||27/02/2023||Low|
|e-hryvnia Pilot Project||Ukraine||Government & Regulators||Infrastructure||CBDC||To promote financial inclusion and cashless payments through the introduction of an affordable, cheap, secure and functional instrument for retail payments for small amounts by individuals.||The National Bank of Ukraine (NBU) is working on creating its own digital currency, called e-hryvnia, as a supplement to cash and noncash forms of the Ukrainian currency. In 2018, the NBU launched a Pilot Project to test distributed ledger technology for e-hryvnia issuance and circulation. The project aimed to study the legal aspects, analyze macroeconomic effects, design a beneficial business model, and review international experience in digital currency issuance by central banks. The e-hryvnia is intended to be easy to use, accessible to all groups, and will promote digitalization of the economy, improve transparency of settlements, and strengthen the monetary sovereignty of Ukraine. As of 2023, the NBU is considering using the e-hryvnia for retail noncash payments, virtual asset circulation, and cross-border payments.||National Bank of Ukraine, UAPAY, Attic Lab||Central Bank||Concluded||Stellar||Attic Lab, Stellar||View project||07/03/2023||High|
|EDF ESG Bond||Global||Retail Finance, Corporate Finance, Investment||Customer-facing, Environment Social and Governance||Bond Tokenisation, Impact Investing, Carbon Credit Registry||To provide better liquidity, lower transaction costs, and greater access for smaller solar-based financing projects which are currently underserved||Energy giant EDF has issued an ESG tokenised bond through BNP Paribas digital assets platform AssetFoundry. The bond is a tokenised bond for a solar energy project financing, representing one of the first renewable energy bond tokenisations on the market.||BNP Paribas, Asset Foundry Inc, EDF||Financial Institution, Technology Company||Launched||Ethereum||AssetFoundry||View project||27/02/2023||Medium|
|EthicHub||United States||Retail Finance||Customer-facing||Financial Instruments tokenisation||To provide affordable loans to the underserved community||EthicHub has been providing affordable loans to smallholder farmers who are excluded from TradFi since 2018 by connecting DeFi to the productive economy of the real world: a smart contract-based crowdlending platform backed by regenerative finance (ReFi) crowd-collateral to de-risk the loans (a type of 2.0 Blended Finance).||EthicHub||Fintech||Launched||Ethereum||View project||23/03/2023||Medium|
|Fireblocks||Global||Capital Markets and Exchanges||Customer-facing, Infrastructure||Infrastructure Provider, Custodian Service||Fireblocks aims to be an easy to use digital asset security platform that helps financial institutions protect digital assets from theft or hackers by using breakthrough MPC & patent-pending chip isolation technology to secure private keys, API credentials and eliminate the need for deposit addresses.||Fireblocks is an easy to use platform to create new blockchain based products, and manage day-to-day digital asset operations. Fireblocks is currently used by over 1300 companies and financial institutions to build their blockchain products on. Fireblocks allows a wide range of blockchain products to be built on its technology, ranging from asset tokenization, payments, wallets to aml and compliance. Essentially, Fireblocks is a direct custody platform that provides the infrastructure that allows institutions to integrate their systems with the crypto capital markets ecosystem and blockchain.||Fireblocks||Fintech||Launched||Fireblocks, Fantom||Fireblocks||View project||27/02/2023||Medium|
|Fnality||Global||Retail Finance, Corporate Finance||Customer-facing||Payments, Clearing and Settlement||The project aims to create a payment solution that is available in multiple currencies to allow for greater efficiencies||Originally called the Utility Settlement Coin (USC), Fnality is a project exploring how Blockchain and Distributed Ledger Technology (DLT) could use tokenised cash assets to settle securities trades. Fnality aims to create a payment solution that is available in multiple currencies to allow for greater efficiencies in managing fragmented liquidity, capable of inter-operating across multiple business platforms, whether to support PvP or DvP settlement of financial transactions, and also be a digital representation of money held in a central bank account to ensure banks could rely upon its value as they would fiat currency.||BNY Mellon, Banco Santander, Barclays, CIBC, Commerzbank, Credit Suisse, Euroclear, Fnality, ING, KBC Group, Lloyds Banking Group, MUFG Bank, Mizuho Financial Group, Nasdaq, Nomura, State Street Corporation, Sumitomo Mitsui Banking Corporation, UBS||Financial Institution||Pilot||Ethereum||View project||27/02/2023||Medium|
|GMEX Group||Global||Corporate Finance, Capital Markets and Exchanges, Investment||Infrastructure||Cross-Chain Bridges, Custodian Service, Clearing and Settlement, Trade Messaging Network, Shared Database||GMEX aims to be a hybrid solution bridging the gap between off-chainTradFi and Defi||GMEX is a global market infrastructure vendor providing multi-asset trading, exchange matching engine and post-trade business solutions, and Ecosystem-as-a-Service (EsaaS) technology. GMEX is the only offering with a complete end-to-end Hybrid Finance (HyFi) solution that bridges the gap between off-chain Traditional Finance (TradFi) and on-chain Decentralized Finance (DeFi). As of date, GMEX group is comprised of the following key businessesGMEX Technologies – Provider of multi-asset traditional and digital exchange trading and post trade technology through a unique partnership driven approachGMEX Fusion – Hybrid centralised & Blockchain Distributed Ledger solutions for trading & post-tradeGMEX MultiHub – An institutional grade ‘multi-asset network of networks’ Platform-as-a-Service (PaaS), to interconnect all types of participants in the capital markets value chainGMEX Innovation – Technology as an Enabler – Research & Development of technologically advanced product solutions for exchange trading, clearing, settlement and digital custodyGMEX Services – Strategic consultancy, implementing services & support for exchanges and market infrastructure providers across asset classes including digital assetsPyctor – A decentralised permissioned digital market infrastructure technology network providing institutional grade custody and transaction services for digital assets in regulated environments.||GMEX Group, IBM||Fintech||Launched||IBM Blockchain||IBM||View project||27/02/2023||Medium|
|Green Assets Wallet||Global||Corporate Finance, Investment||Environment Social and Governance||ESG Reporting||The blockchain technology aims to deliver a system for validation, and impact reporting, functioning through accredited validators and evidence points and a scoring system||Stockholm Green Digital Finance (SGDF) and the Emerging Markets Dialogue on Finance (EMDF), a GIZ project, commissioned by the German Ministry for Economic Cooperation and Development (BMZ), are now jointly developing a unique blockchain-based technology for validating green investment claims through immutable verification of green impacts. The purpose is to stimulate the market for green investment through trust and efficiency, with a special focus on green investment opportunities in Emerging Markets. The joint project will deliver the Green Assets Wallet (GAW), an open source application for validating, monitoring and reporting of green Investment.||Stockholm Green Digital Finance, Emerging Markets Dialogue on Finance, German Ministry for Economic Cooperation and Development, GIZ, ChromaWay, 4ire Labs, CICERO, SEB, Öhman, Vasakronan, Mistra, GIB, China Energy Conservation and Environmental Protection Group||Financial Institution, Government Entity||Launched||Chromia||ChromaWay||View project||08/03/2023||Medium|
|Hong Kong's Tokenised Green Bonds||Hong Kong||Government & Regulators||Environment Social and Governance, Infrastructure||Bond Tokenisation, Impact Investing, Carbon Credit Registry||To out the financial infrastructure and Hong Kong's legal and regulatory environment for the use of DLT throughout the bond lifecycle and to serve as a guide for similar future issuances by market participants.||The Hong Kong Monetary Authority has issued a US$100m tokenized green bond in collaboration with Goldman Sachs, HSBC, Bank of China and Credit Agricole. The bond is the first tokenised bond governed by Hong Kong law under the Government Green Bond Programme and the first tokenised green bond issued by a government globally. Cash tokens which were akin to wholesale CBDCs were minted by HKMA in exchange for fiat cash provided by the banks to facilitate on-platform settlement of primary issuance and secondary trading, as well as coupon payment and maturity redemption. The green bond not for distribution in the United States of America, Canada, Australia or Japan or in any other jurisdiction in which such distribution or dissemination would be prohibited by applicable law.||Goldman Sachs, HSBC, Bank of China, Credit Agricole, Hong Kong Monetary Authority||Financial Institution, Central Bank||Pilot||GS DAP||Goldman Sachs||View project||27/02/2023||Medium|
|HQLAᵡ||Europe||Corporate Finance, Capital Markets and Exchanges, Investment||Infrastructure||Clearing and Settlement, Shared Records Database, Trade Messaging Network||To provide capital savings to global banks by improving collateral mobility across market-leading triparty agents and custodians in Europe and allow instantaneous transaction of securities||The HQLAx model creates a standardized post trade solution to help market participants redistribute liquidity more efficiently by improving interoperability for pools of collateral (HQLA and non-HQLA) residing in multiple, disparate settlement systems and locations, without the operationally onerous requirement to move securities across a fragmented securities settlement system. The multi-layer operating model enables clients to exchange ownership of baskets of securities across disparate collateral pools at precise moments in time through Atomic Delivery vs Delivery (DvD) settlement. HQLAx has been involved in various lending and repo pilots to demonstrate its use cases including a cross-chain repo swap pilot across R3 Corda and Enterprise Ethereum||Eurex, HQLAx, Deutsche Börse, Clearstream, Euroclear, JP Morgan, BNY Mellon, BNP Paribas, Citi||Financial Institution||Launched||HQLAx||HQLAx||View project||13/03/2023||Medium|
|HSBC Digital Vault||Global||Retail Finance, Corporate Finance||Customer-facing||Data Provider, Custodian Services, Transaction Monitoring and Analytics||To allow custody clients to access their private assets - including equity, debt and real estate - directly and in real time, instead of having to request a search of paper-based records||Using blockchain to reduce the time it takes investors to make checks or queries on holdings, the new HSBC platform, known as Digital Vault, will give investors real-time access to records of securities bought on private markets.||HSBC||Financial Institution||Launched||Corda||R3||View project||20/03/2023||Medium|
|HSBC FX Everywhere||Global||Corporate Finance||Customer-facing||FX||To increase the efficiency of the flow of FX transactions||Using a shared permissioned ledger, which provides singularity, transparency and immutability, it transforms the process around intra-company foreign exchange activity, automating several manual procedures and reducing reliance on external settlement networks. Using DLT, HSBC has settled $250b Foreign Exchange Transactions including a join FX settlement with Wells Fargo||HSBC||Financial Institution||Launched||Undisclosed||Undisclosed||View project||08/03/2023||Medium|
|HSBC Orion||Global||Corporate Finance, Capital Markets and Exchanges, Investment||Customer-facing, Infrastructure||Bond Tokenisation, Custodian Service||To meet the growing need of solutions that can deliver the benefits of tokenisation within a trusted and secure environment||HSBC Orion is HSBC's new proprietary tokenisation platform that financial institutions and corporates will be able to use to issue digital bonds based on distributed ledger technology. HSBC Orion leverages blockchain technology as a ‘single source of truth’, whereby asset and settlement tokens sit natively and securely on the platform’s ledger. Transactions occur by exchanging these tokens, achieving digital ‘delivery versus payment’. The EIB recently launched £50 million worth of bonds on HSBC's Orion platform.||HSBC||Financial Institution||Launched||Private Blockchain||HSBC||View project||08/03/2023||Low|
|Inthanon-LionRock||Hong Kong, Thailand||Government & Regulators, Corporate Finance||Infrastructure||CBDC, Cross-Border Payments||Examining if, where and how distributed ledger technology (DLT) might enhance cross-border payments between commercial banks.||The two authorities - The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) -- agreed to proceed with further joint research work in relevant areas, including exploring business cases and connections to other platforms, involving participation of banks and other relevant parties in cross-border funds transfer trials.||Bank of Thailand, Hong Kong Monetary Authority, ZA Bank, Bangkok Bank, HSBC, Krungthai, Krungsi, Kasikorn Bank, SCB, Thanachart Bank, Standard Chartered, R3, CH & Co, CryptoBlk||Central Bank, Fintech, Financial Institution||Proof of concept||Corda||R3||View project||27/02/2023||Very High|
|Komgo||Global||Corporate Finance||Infrastructure||Logistics Tracking, Goods Payout Automation, Shared events database||Komgo aims to be a single source of truth for corporations and financial institutions, bringing increased transparency, cost savings, simplicity and efficiency to trade finance||Komgo is a blockchain-based open platform that is bringing commodity trade finance into the 21st century by optimizing financing processes and accelerating industry operations with digitized transactions and a trusted source of documents to reduce fraud. Komgo acts as a single source of truth, allowing traders, carriers, banks, and other authorized participants to securely transact in a highly efficient, digitized way, resulting in industry-wide simplification of operations and standardized documentation.||Societe Generale, ABN AMRO, BNP Paribas, Citi, Credit Agricole Group, Gunvor, ING, KOCH, Macquarie, Mercuria, MUFG, Natxis, Rabobank, Shell, SGS||Financial Institution, Others||Launched||Quorum, VAKT||ConsenSys, Kaleido||View project||27/02/2023||Medium|
|KYC-Chain||Global||Retail Finance, Corporate Finance, Capital Markets and Exchanges, Investment, Insurance, Non-Financial||Compliance and Risk||Digital Identity Credential, Transaction Monitoring and Analytics, Document Authentication, AML Transaction Analytics||To enable automated on-boarding of people and legal entities by leveraging technology such as robotic process automation, biometric matching neural networks, and blockchain based identity credentials to reduce onboarding time and cost while improving KYC quality.||KYC-Chain is one of the leading compliance dashboard and whitelabel customer on-boarding portals enabling companies to perform due diligence on their customers in accordance with CDD/AML/KYC requirements. It is an all-in-one workflow solution to verify customers’ identities, streamline a KYC on-boarding process and manage the entire customer lifecycle. KYC-Chain provides various services, from identity and verification, KYC and AML checks, to blockchain AML on cryptocurrency transactions as well.||KYC-Chain||Technology Company||Launched||KYC-Chain||KYC-Chain||View project||13/03/2023||Medium|
|Lugano Digital Bond||Switzerland||Corporate Finance, Capital Markets and Exchanges||Customer-facing, Infrastructure||Bond Tokenisation||To establish the City of Lugano’s role as a leader for innovation across the public sector and the learning effects will be far reaching.||The city of Lugano launched a 6-year CHF senior unsecured native digital bond with a total issue volume of CHF 100 million and a maturity in 2029. The bond was issued on the Distributed Ledger Technology (DLT) based SIX Digital Exchange (SDX) and can be held in both Central Securities Depositories of SDX and of SIX (SIX SIS). In addition, as a dual listed bond, this instrument will be listed and tradeable at both SIX Digital Exchange and SIX Swiss Exchange.||Lugano City, Zürcher Kantonalbank, SDX||Financial Institution, Government Entity||Launched||SDX, Corda||SDX||View project||27/02/2023||Medium|
|Marco Polo Network||Global||Corporate Finance, Non-Financial||Infrastructure, Compliance and Risk, Environment Social and Governance||Clearing and Settlement, Goods Payout Automation, Shared Historical Records Database||To increase the efficiency and speed of transactions and data of supply chain transactions, and to provide a network for companies to share data across easily||Using the Marco Polo network, companies can exchange information within minutes, agree order and delivery data, and secure the payment term by way of a payment commitment. This conditional payment commitment is handled by the buyer’s bank, which can give the commitment within minutes – rather than days, as before. After the delivery is received, the associated data is immediately available in the systems and the banks settle the payment without delay. As of February 23, 2023, the Marco Polo Network has become insolvent.||Accenture, BNP Paribas, BNY Mellon, BofA, Consortium of Banks and Enterprises, Google, IBM, Microsoft, R3, Ripple, Sumitomo Mitsui Banking Corporation, TradeIX||Financial Institution, Technology Company||Launched||Corda||R3||View project||27/02/2023||Medium|
|Metamask||Global||Retail Finance||Customer-facing, Infrastructure||Custodian Service||Metamask is a crypto wallet with the aim to help cryptocurrency users establish their identities and connect to the crypto ecosystem in a user-friendly manner.||MetaMask is a free web and mobile crypto wallet that allows users to store and swap cryptocurrencies, interact with the Ethereum blockchain ecosystem, and host a growing array of decentralized applications. It is currently one of the most widely used crypto wallets. While MetaMasks acts as a decentralized wallet where it does not store your private and public keys, it is important to note that it is still fundamentally centralized where it can be used to block user access in certain sanctioned areas.||ConsenSys||Fintech||Launched||Ethereum||ConsenSys||View project||27/02/2023||Medium|
|MUFG warehouse interest tokenisation||Japan||Retail Finance, Investment, Capital Markets and Exchanges||Customer-facing, Infrastructure||Other Assets Tokenisation||Mitsui will tokenize an interest in a warehouse, using MUFG’s blockchain platform Progmat and SBI Securities will offer the tokens to the public. MUFG is the trustee for the project. The property is part of Mirai, an investment company jointly managed by Mitsui Asset Management and Idera Capital.||MUFG, SBI Securities, Mitsui Asset Management, Idera Capital||Financial Institution||Launched||Progmat||MUFG||View project||23/03/2023||Medium|
|NAB Cross-border Stablecoin Transaction||Australia||Government & Regulators||Infrastructure||Stablecoin, Cross Border Payments||To simplify international banking protocols to increase speed and transparency while lowering costs and reducing complexity for customers||National Australia Bank in partnership with Blockfold and Fireblocks has successfully completed a cross-border transaction using NAB-issued stablecoin on the public and permissionless Ethereum blockchain. The pilot transaction involved smart contracts for seven major global currencies and demonstrates the potential to significantly reduce the time it takes to complete cross-border transactions. NAB's Australian stablecoin, AUDN, fully backed by the Australian dollar, will be the cornerstone for its ambitions in digital assets.||National Australia Bank, Blockfold, Fireblocks||Technology Company, Financial Institution||Pilot||Ethereum||Blockfold, Fireblocks||View project||20/03/2023||Medium|
|Onyx||Global||Corporate Finance, Capital Markets and Exchanges, Investment||Infrastructure, Compliance and Risk, Environment Social and Governance||FX, Bond Tokenisation, Financial Instruments Tokenisation, Clearing and Settlement, Cryptocurrencies, Tokens, Trade Messaging Network, Shared Records Database, Custodian Service||Onyx aims to forge digital finance for the financial market and the repo market, being at the forefront of the industry to transform the way money, information and assets are moving around the world.||Onyx is the digital assets arm of JP Morgan. Onyx has pioneered the world's first blockchain-based platform for wholesale payments transactions, helping to transform the way that money, information and assets are moving around the world. Onyx consists of 4 main pillars: Liink - an information exchange network that enables seamless data sharing between institutions, Onyx Digital Assets - a network enabling the exchange of value for various types of digital assets as well as tokenisation of assets, Coin Systems focused on digital solutions for the transfer and clearing of money, which can be applied to a variety of systems including multi-bank and multi-currency ledgers and helping organisations launch their own blockchain products, as well as Blockchain Launch, a web3 innovation unit focusing on building and develping new applications of blockchain technology||JP Morgan||Financial Institution||Launched||Onyx||JP Morgan||View project||13/03/2023||Medium|
|open Insurance Data Link (openIDL)||Global||Insurance||Infrastructure, Compliance and Risk||Shared Historical Records Database, Shared events database||To reduce the cost of regulatory reporting for insurance carriers, provide a standardized data repository for analytics, and a connection point for third parties to deliver new applications to members||openIDL is an insurance-specific and permissioned DLT-based project building a network that harmonizes industry data and secures the sharing of it both efficiently and transparently. openIDL helps streamline regulatory reporting and provides new insights for insurers. The project makes use of DLT as a shared database, allowing parties in the network to retrieve as well as log information to ensure transparency, all while keeping the network secure to ensure data privacy.||AAIS, Linux Foundation||Association, Technology Company||Launched||Hyperledger Fabric||Linux Foundation||View project||22/03/2023||Medium|
|Pablo Picasso, Fillette Au Béret||Global||Investment, Non-Financial||Customer-facing||Other Assets Tokenisation||To diversify art investments without the excessive fees associated with traditional brick-and-mortar art companies while adhering to transparent business practices||Sygnum, a digital asset bank, and Artemundi, an art investment pioneer, have partnered to tokenize Picasso’s Fillette au béret painting. This marks the first time the ownership rights in a Picasso, or any artwork, are being broadcast onto the public blockchain by a regulated bank, enabling investors to purchase and trade “shares” in the artwork called Art Security Tokens (ASTs). Transactions will be settled in Swiss Francs, using Sygnum’s digital CHF stablecoin (DCHF).||Sygnum Bank, Artemundi Group||Financial Institution, Others||Launched||SygnEx||Sygnum||View project||16/03/2023||Medium|
|PancakeSwap||Global||Investment, Capital Markets and Exchanges||Customer-facing, Infrastructure||Cryptocurrencies, DEX, DAO||Pancake aims to solve the traditional order book system liquidity issue of exchanges by providing a consistent liquidity pool, allowing people to exchange cryptocurrencies anytime, while providing access to a different blockchain than Uniswap||PancakeSwap is a decentralized exchange that allows you to trade tokens while also offering opportunities to profit from liquidity pools and staking. Similar to Uniswap, PancakeSwap uses liquidity pools to solve the liquidity issue in traditional exchanges. The difference between Uniswap and PancakeSwap lies in the underlying blockchain they are built on. While Uniswap is built on Ethereum, PancakeSwap is built on the Binance Smart Chain.||PancakeSwap||Fintech||Launched||BNB Chain||PancakeSwap||View project||27/02/2023||Medium|
|Partior||Singapore||Corporate Finance||Infrastructure||Cross-Border Payments, Clearing and Settlement||To improve speed, access and transparency pain points in cross-border payments||Partior is an open industry platform, and banks around the world can join the network to access real-time cross-border multi-currency payments. Partior’s 24/7 blockchain network can complement and interoperate with real-time local currency payment/RTGS systems, which may not be 24/7. As part of future enhancements, Partior plans to support broader multi-asset class use cases such as Delivery Versus Payment (DVP), FX Payment Versus Payment (PVP), tokenised asset borrowing and lending, and serve as a complementary platform for ongoing Central Bank Digital Currency (CBDCs) initiatives.||DBS, JP Morgan, Temasek||Financial Institution||Launched||Quorum||ConsenSys||View project||27/02/2023||Medium|
|Polygon Network||Global||Non-Financial||Infrastructure||Layer 2 blockchain||Polygon aims to create a multi-chain blockchain ecosystem compatible with Ethereum to help Ethereum with its scalability by improving transaction speeds and lowering the costs for developers.||Polygon is a blockchain platform that enables blockchain networks to connect and scale.||Polygon||Fintech||Launched||Polygon||Polygon Technology||View project||27/02/2023||Medium|
|Polymath||Global||Investment, Capital Markets and Exchanges||Customer-facing, Infrastructure||Cryptocurrencies, Asset Tokenisation, DAO||Polymath was registered with the SEC to bring standardization and regulatory compliance into the process of tokenized capital raising, providing trust and security to investors||Polymath is an Ethereum blockchain–based security token issuance platform and a protocol for issuance and restriction of trading of blockchain security tokens. It allows entities seeking to raise capital to issue standardized, Ethereum-based security tokens that are compliant with SEC regulations. Recently, Polymath has partnered with Cardano to create Polymesh, the world's first security token blockchain||Polymath||Fintech||Launched||Polymath||Polymath||View project||27/02/2023||Medium|
|Progmat Coin||Japan||Retail Finance, Corporate Finance||Infrastructure||Cryptocurrencies, Stablecoin||To become the stablecoin for Japan to settle NFT and crypto asset transactions||The Progmat Coin will consist of multiple coins, each backed by a pool of money ringfenced in a trust. Using the Progmat Coin infrastructure, the transfer of coins means that payments do not touch the banking system, similar to public blockchain payments. The project is focused on wholesale stablecoin for institutional use, referred to as RTGS (real-time gross settlement) on Progmat.||MUFG, Mizuho Bank, Sumitomo Mitsui Trust Bank, SMBC, SBI PTS, NTT Data, Japan Exchange Group||Financial Institution||Launched||Corda||R3||View project||08/03/2023||Medium|
|Project Aber||UAE, Saudi Arabia||Government & Regulators, Corporate Finance||Infrastructure||CBDC, Cross-Border Payments||The main goal of Aber is to create a digital currency that can be used between the two central banks of each nation and limited banks that are hand-selected by the central banks.||In November 2020 the two central banks published the results of their joint "Aber" wholesale central bank digital currency (wCBDC) pilot project. In Jan 2019, the Saudi Arabian Monetary Authority (SAMA) and the United Arab Emirates Central Bank (UAECB) announced a common digital currency project, " Aber", for financial settlements between Saudi Arabia and the United Arab Emirates. The purpose of the project is to improve the efficiency of international remittances and develop an additional system for domestic payments settlement in case of disruption. Neither country has yet revealed a timeline for the CBDC, nor have they stated specifics on the underlying blockchain structure or whether it will be pegged to fiat currencies.||Saudi Arabian Monetary Authority, United Arab Emirates Central Bank, Al Rajhi Bank, Alinma Bank, Riyad Bank, First Abu Dhabi Bank, Emirates NBD, Dubai Islamic Bank||Central Bank, Financial Institution||Concluded||Hyperledger||IBM||View project||27/02/2023||Very High|
|Project Atom||Australia||Government & Regulators, Corporate Finance||Infrastructure||CBDC||To determine how access to a tokenised CBDC could be extended to a wider range of wholesale market participants than just commercial banks, the potential benefits of integrating tokenised CBDC with a digital asset in the form of a tokenised syndicated loan on interoperable DLT platforms, and how an enterprise-grade version of the Ethereum blockchain platform could address some of the technical limitations in the public version of Ethereum, with a view to understanding whether DLT could be a viable technology for this type of system.||Project Atom was a collaborative research project undertaken that examined the potential use and implications of a wholesale form of central bank digital currency (CBDC) using distributed ledger technology (DLT). The project involved the development of a proof-of-concept (POC) for the issuance of a tokenised form of CBDC that could be used by wholesale market participants for the funding, settlement and repayment of a tokenised syndicated loan on an Ethereum-based DLT platform.||Reserve Bank of Australia, Commonwealth Bank, National Australia Bank, Perpetual, ConsenSys||Central Bank||Concluded||Hyperledger Besu||ConsenSys||View project||27/02/2023||Very High|
|Project Aurum||Hong Kong||Government & Regulators||Infrastructure||CBDC||The aim was to create a full-stack central bank digital currency (CBDC) interbank system with privacy, safety and flexibility being core to the system, bringing to life two very different types of tokens: intermediated CBDC tokens and stablecoins backed by CBDC in the interbank system||Project Aurum is a collaboration between the BIS Innovation Hub Hong Kong Centre, the Hong Kong Monetary Authority, and the Hong Kong Applied Science and Technology Research Institute. Aurum is a full-stack (front-end and back-end) central bank digital currency (CBDC) system comprising a wholesale interbank system and a retail e-wallet system.||BIS, Hong Kong Monetary Authority, Hong Kong Applied Science and Technology Research Institute||Central Bank, Others||Research||Undisclosed||Undisclosed||View project||07/03/2023||Medium|
|Project Cedar Phase I||United States||Government & Regulators||Infrastructure||CBDC, Cross-Border Payments||To improve the speed, cost, and access to a critical element of the wholesale cross-border payments market—a foreign exchange (FX) spot transaction.||Project Cedar is the inaugural project of the New York Innovation Center (NYIC). It is a multiphase research effort to develop a technical framework for a theoretical wholesale central bank digital currency (wCBDC) in the Federal Reserve context. In Phase I of Project Cedar, a prototype for a wholesale central bank digital currency was developed to demonstrate the potential of blockchain to improve the speed, cost, and access to a critical element of the wholesale cross-border payments market—a foreign exchange (FX) spot transaction.||New York Innovation Center, US Federal Reserve||Central Bank||Research||Undisclosed||View project||27/02/2023||Very High|
|Project Dunbar||Global||Government & Regulators||Infrastructure||CBDC, Cross-Border Payments||The project aimed to answer the following questions- which entities should be allowed to hold and transact with CBDCs issued on the platform- How could the flow of cross-border payments be simplified while respecting regulatory differences across jurisdictions- What governance arrangements could give countries sufficient comfort to share critical national infrastructure such as a payments systemIt explores how a common platform for multiple central bank digital currencies (multi-CBDCs) could enable cheaper, faster and safer cross-border payments.||Project Dunbar is an experimental multi-CBDC (multiple central bank digital currencies) platform for international settlements, developed by BIS Innovation Hub and central banks of Australia, Malaysia, Singapore and South Africa. Project Dunbar proved that financial institutions could use CBDCs issued by participating central banks to transact directly with each other on a shared platform.||BIS, Bank Negara Malaysia, Monetary Authority of Singapore, Reserve Bank of Australia, South African Reserve Bank, Banque de France, Magyar Nemzeti Bank, DBS, JP Morgan, Temasek||Central Bank||Concluded||Corda, Quorum||R3, Partior||View project||27/02/2023||Very High|
|Project Genesis||Hong Kong||Investment, Capital Markets and Exchanges, Government & Regulators||Environment Social and Governance, Infrastructure||Impact Investing, Bond Tokenisation||Streamline the processes of a typical bond life cycle, on a private and public permissioned distributed ledger platform, including origination, subscription, settlement and secondary trading.||The BIS Innovation Hub and the Hong Kong Monetary Authority (HKMA) successfully developed two prototype digital platforms that bring to life the vision that an investor can download an app and invest any amount into safe government bonds, which will develop a green project. Over the bond's lifetime, the investor can not only see accrued interest, but also track in real time how much clean energy is being generated, and the consequent reduction in CO2 emissions linked to the investment. Further, the investor can sell the bonds in a transparent market||BIS, Hong Kong Monetary Authority, UN Climate Change Global Innovation Hub, AllInfra, Digital Asset, GFT, Standard Chartered, Liberty Consortium||Central Bank, Financial Institution, Fintech||Concluded||Daml Ledger, AWS Cloud Service, IAMSmart, OpenID Connect, Stellar Network||AllInfra, Shareable Asset, Liberty||View project||27/02/2023||Very High|
|Project Helvetia||Switzerland||Government & Regulators, Corporate Finance||Infrastructure||CBDC, Clearing and Settlement||SNB looked at using central bank digital currencies (CBDCs) for so-called wholesale transactions between financial institutions to make trading assets on a planned SIX exchange that will specialise in digital versions of conventional assets more efficient.||Project Helvetia was a multi-phase investigation by the BIS Innovation Hub, the Swiss National Bank (SNB) and the financial infrastructure operator SIX. The project explored how central banks could offer settlement in central bank money in a future with more tokenised financial assets based on distributed ledger technology (DLT), focusing on operational, legal and policy questions.Phase I built on the test environments of the Swiss real-time gross settlement system – SIX Interbank Clearing (SIC) system – and SIX Digital Exchange (SDX), a platform for the trading and settlement of tokenised assets. Phase II expanded on the work carried out in Phase I by (i) adding commercial banks to the experiment; (ii) integrating wholesale central bank digital currency (wCBDC) into the core banking systems of the central bank and commercial banks; and (iii) running transactions from end to end.||Swiss National Bank, Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg, UBS||Central Bank||Research||SDX||SDX||View project||27/02/2023||Very High|
|Project Inthanon||Thailand||Government & Regulators, Capital Markets and Exchanges, Investment||Infrastructure||CBDC, Clearing and Settlement||To explore potential benefits of the Distributed Ledger Technology (DLT) in enhancing Thailand’s financial infrastructure as well as to develop an ecosystem which supports technological learning and advancement||The Bank of Thailand along with eight leading financial institutions and a technology partner R3, had conducted Project Inthanon Phase II during February - June 2019. The latest phase was built upon Project Inthanon Phase I and involved collaborative designing, developing and testing a proof-of-concept (POC) of the decentralised Real-Time Gross Settlement system by using the wholesale Central Bank Digital Currency (CBDC). Project Inthanon Phase II was driven by business use cases in order to solve current business pain points and improve efficiency in the settlement system.||Bank of Thailand, Bangkok Bank, Krung Thai Bank, Bank of Ayudhya, Kasikornbank, Siam Commercial Bank, Thanachart Bank, Standard Chartered, HSBC, R3||Central Bank, Financial Institution||Proof of concept||Corda||R3||View project||27/02/2023||Very High|
|Project Jasper||Canada||Government & Regulators||Infrastructure||CBDC, Clearing and Settlement||The aim of this initiative is to understand how the use of DLT might deliver greater benefits to interbank payments.||Canada's digital currency initiative is one among a portfolio of contingencies to adapt to any possible scenario, and prepare for the future of money and payments. According to the Bank of Canada, it would consider launching a digital currency if "the use of bank notes were to decline to a point where Canadians no longer had the option of using them for a wide range of transactions;" or a competing digital currency were to become a widespread alternative to the Canadian dollar. In 2018, the Bank of Canada, Bank of England, and Monetary Authority of Singapore jointly published a report examining alternative models for cross-border transactions. The report looked at three models, one of which used Wholesale Central Bank Digital Currency, and concluded "the models could be used to improve access, speed and transparency of cross-border payments." Canada also piloted Project Jasper in 2017 which experimented with distributed ledger technologies for payments.||Bank of Canada, Payments Canada, R3, 3 The Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, TD Bank, National Bank of Canada, HSBC||Central Bank, Financial Institution||Concluded||Corda||R3||View project||27/02/2023||Very High|
|Project Jura||Switzerland, France||Government & Regulators, Corporate Finance||Infrastructure||CBDC, Cross-Border Payments||To explore how the safety of central bank money can be extended across borders between the central bank of Switzerland and France||Project Jura was conducted by the Banque de France, the BIS Innovation Hub and the Swiss National Bank in collaboration with a group of private sector firms based on an open call for applications. It is part of a series of wholesale CBDC experiments initiated by the Banque de France in 2020 and continues the experimentation conducted by the Swiss National Bank and the BIS Innovation Hub under Project Helvetia. Jura explores the direct transfer of euro and Swiss franc wholesale central bank digital currencies (wCBDCs) between French and Swiss commercial banks on a single DLT platform operated by a third party. Tokenised asset and foreign exchange trades are settled safely and efficiently using payment versus payment (PvP) and delivery versus payment (DvP) mechanisms.||Swiss National Bank, Banque de France, BIS, Accenture, Credit Suisse, Natixis, R3, SDX, UBS, OCTO Technology||Central Bank, Financial Institution, Others||Concluded||Corda, DAR||R3, OCTO Technology||View project||27/02/2023||Very High|
|Project Khokha Phase 1||South Africa||Government & Regulators||Infrastructure||CBDC, Clearing and Settlement||Project Khokha was launched to assess the performance, scalability, privacy, resilience and finality of a Distributed Ledger Technology solution under conditions as realistic as possible to those in the banking sector.||In March 2019, before the feasibility project Khokha was announced, SARB invited bids from private companies to develop CBDC infrastructure. According to the BIS Quarterly Review, "the scope of this project is specific to the use of a CBDC as electronic legal tender (ELT), similar to the characteristics of, and complementary to, cash."The project concluded with the following goals achieved:1. Exceeded the transaction performance target at 70,000 transactions in less than two hours.2. 95% of block propagation time in less than 1 second and 99% propagation in less than 2 seconds. This demonstrated that acceptable performance is achievable, despite the geographical distribution of the banks’ hardware.3. Achieved privacy while meeting required transaction volumes.4. This was the first time that the IBFT consensus mechanism, Pedersen commitments, and range proofs for confidentiality were used together with Quorum. Combined, all key elements delivered a combination of scalability, resilience, confidentiality, and settlement finality.||South African Reserve Bank, Absa, Standard Bank, Capitec, Discovery Bank, FirstRand, Investec, Nedbank, PwC||Central Bank, Others, Financial Institution||Concluded||Quorum||ConsenSys||View project||27/02/2023||Very High|
|Project mBridge||China, UAE, Hong Kong, Thailand||Government & Regulators||Infrastructure||CBDC, Cross-Border Payments||Project mBridge tests the hypothesis that an efficient, low-cost, real-time and scalable cross-border multi-CBDC arrangement can provide a network of direct central bank and commercial participant connectivity and greatly increase the potential for international trade flows and cross-border business at large.||Project mBridge experiments with cross-border payments using a common platform based on distributed ledger technology (DLT) upon which multiple central banks can issue and exchange their respective central bank digital currencies (multi-CBDCs). A native blockchain platform, mBridge Ledger (mBL) was developed for the project. The mBL uses a consensus mechanism named HotStuff+, which is a variation of HotStuff.||BIS, Bank of Thailand, Hong Kong Monetary Authority, People's Bank of China, Central Bank of the United Arab Emirates, ICBC, Bank of China, HSBC, First Abu Dhabu Bank, Standard Chartered, Bank of Communications, Agricultural Bank of China, China Construction Bank, Bangkok Bank, Kasikornbank, SCB, Krungsri||Central Bank||Pilot||mBridge Ledger||Bank of Thailand, Hong Kong Monetary Authority, People's Bank of China, Central Bank of the United Arab Emirates||View project||27/02/2023||Very High|
|Project Mercure||Europe||Government & Regulators, Capital Markets and Exchanges, Investment||Infrastructure||Bond Tokenisation||To explore the benefits of the digitalisation of capital markets to bring the benefits to market participants||Project Mercure consists of the issuance by the EIB of a series of digital bonds on a blockchain, where investors purchased and paid for the security tokens using traditional currency. The project saw the issuance of the EIB's first digital bond on a public blockchain - the Ethereum blockchain. The joint lead managers — Goldman Sachs Bank Europe SE, Santander and Société Générale — then settled the underwriting against the issuer using a representation of central bank money, the digital euro, provided by the Banque de France. Unlike Project Venus, another similar project by the EIB which was governed by Luxembourg law, Project Mercure is goverened by French law which does not require a custodian to be involved.||Banque de France, EIB, Goldman Sachs, Santander, Société Générale, Union Investment||Central Bank, Financial Institution, Government Entity||Launched||Ethereum||Societe Generale FORGE, Consensys||View project||06/04/2023||Very High|
|Project Orchid||Singapore||Government & Regulators, Retail Finance||Infrastructure, Customer-facing||CBDC, Purpose Bound Money||Develop the technology infrastructure and technical competencies necessary to issue a retail CBDC and explore potential use cases for a programmable money in Singapore||Project Orchid is a multi-year, multi-phase exploratory project examining the various design and technical aspects pertinent to a retail CBDC system for Singapore, from its functionalities to its interaction with existing payment infrastructures. Phase 1 of the project consists of the exploration of purpose bound money (PBM). PBM refers to a protocol that specifies the conditions upon which an underlying digital currency can be used. PBMs are bearer instruments, with self-contained programming logic and transferrable between two parties without intermediaries. Phase 1 consisted of the use of PBM in four trials comprising of government vouchers, commercial vouchers, government payouts and skill development grants.||Monetary Authority of Singapore, DBS, UOB, OCBC, StraitsX, Grab||Central Bank, Fintech, Financial Institution||Proof of concept||Polygon||StraitsX||View project||27/02/2023||Very High|
|Project Stella||Euro Area, Japan||Government & Regulators, Corporate Finance||Infrastructure||CBDC, Cross-Border Payments||It explores the opportunity for using DLT to improve financial market infrastructure to support payment and securities settlement.||Project Stella is a joint research project conducted by the European Central Bank and Bank of Japan to explore the opportunity for DLT to support financial market infrastructure, payments, and securities settlement. - Split over 4 Phases, phase 1 used distributed ledger technology (DLT) to process large-scale payments; phase 2, tested securities settlement in a DLT setting; phase 3, applied DLT-related technologies to improve cross-border payment efficiency; and phase 4 focused on the confidentiality and auditability of settlement assets, such as CBDC, in a DLT environment.||European Central Bank, Bank of Japan||Central Bank||Research||Corda, Elements, Hyperledger||R3, IBM||View project||27/02/2023||Very High|
|Project Venus||Europe||Government & Regulators, Capital Markets and Exchanges, Investment||Infrastructure||Bond Tokenisation||To explore the benefits of the digitalisation of capital markets to bring the benefits to market participants||Project Venus consists of the issuance by the EIB of a series of digital bonds on a blockchain, where investors purchased and paid for the security tokens using traditional currency. The joint lead managers — Goldman Sachs Bank Europe SE, Santander and Société Générale — then settled the underwriting against the issuer using a representation of central bank money, the digital euro, provided by the Banque de France and Banque de Luxembourg.||Banque centrale du Luxembourg, Banque de France, EIB, Goldman Sachs, Santander, Société Générale, Luxembourg Stock Exchange, Union Investment, AXA Investment Management||Central Bank, Financial Institution, Government Entity||Launched||GS DAP||Goldman Sachs||View project||27/02/2023||Very High|
|RedSwan tokenized shares||Global||Investment||Customer-facing||Real Estate Tokenisation||To provide better liquidity, lower transaction costs, and greater access to real estate investment||Red Swan partnered with security token firm Polymath in 2020 to tokenize $2.2 billion in assets including apartments and a hemp farm. RedSwan CRE (Commercial Real Estate) is a FinTech company working with all kinds of investors, but particularly focused on non-institutional investors or those that are currently underserved in the real estate industry. RedSwan allows investors to invest in real estate at a portion of the whole value through tokenisation of the real estate. The token sale targeted investors seeking to deploy between $500,000 and $10 million - investors who lack the capital to purchase top level ‘Class A’ commercial real estate in traditional markets, and have been forced to consider lower-grade, riskier investment opportunities. While banks will usually only allow roughly 50 percent leverage on a given asset, Red Swan allows property owners to tokenize 90 percent of the net equity underlying a property. Red Swan makes money by taking a percentage of the equity that’s issued, and tokens sit within a digital wallet custodied by Prime Trust and are insured up to $1 billion.||RedSwan, Polymath||Fintech, Others||Launched||Ethereum||Polymath||View project||22/03/2023||Medium|
|Sand Dollar||Bahamas||Government & Regulators||Infrastructure||CBDC||Increase the efficiency of the Bahamian payments systems through more secure transactions and faster settlement speed, achieve greater financial inclusion, cost-effectiveness, and provide greater access to financial services across all of The Bahamas. The Sand Dollar also aims to strengthen national defences against money laundering, counterfeiting, and other illicit ends by reducing the ill effects of cash usage.||Project Sand Dollar is the initiative embarked on by the Central Bank of The Bahamas (CBOB) to issue a digital representation of the Bahamian dollar (B$). It is an undertaking to promote more inclusive access to regulated payments and other financial services for unbanked and underbanked communities and socio-economic groups within the country. After a successful 2019 pilot on the island conglomeration of Exuma the Sand Dollar was launched in October 2020 on further islands of the Bahamas. The Sand Dollar is the first ever nationwide Central Bank Digital Currency in the world and is considered the most developed CBDC so far. The Sand Dollar is pegged 1-to-1 to the Bahamas dollar, which is also pegged to the US dollar. The CBOB is also directly liable for the Sand Dollar, which is backed by its foreign exchange reserves. The digital version of the Bahamian dollar can serve both as a wholesale and retail CBDC.||Central Bank of Bahamas||Central Bank||Launched||NZIA Cortex DLT||NZIA||View project||16/03/2023||Medium|
|Santander Tokenized Bond||Global||Retail Finance, Corporate Finance||Customer-facing||Bond Tokenisation||The one-year maturity bond has reduced the number of intermediaries required in the process, making the transaction faster, more efficient and simpler||Banco Santander announced that it has issued the first end-to-end blockchain bond. The bank issued the bond directly onto the Ethereum blockchain and the bond will also continue to exist only on the blockchain: a first step towards a potential secondary market for mainstream security tokens in the future.||Banco Santander, Nivaura||Financial Institution||Launched||Ethereum||Ethereum||View project||27/02/2023||Medium|
|Singtel Sustainability-Linked Bond||Singapore||Retail Finance, Corporate Finance, Capital Markets and Exchanges||Customer-facing, Environment Social and Governance||Digital Assets, Digital Bond, ESG||Singtel’s first digital sustainability-linked bond reaffirms our commitment to sustainability and to bring the benefits of digitalisation to everyone||Singtel, as part of its commitment to support sustainability and the digitalisation of the financial ecosystem, today announced the successful pricing of Singapore’s largest foreign currency digital bond. The US$100 million, five-year digital Sustainability-Linked Bond (SLB) is a partnership by Singtel’s wholly-owned subsidiary, Singtel Group Treasury (SGT), with UOB and ADDX. The digital SLB will be drawn down under SGT’s existing S$10 billion Euro Medium Term Note Programme, guaranteed by Singtel. The SLB will carry a US$ fixed coupon rate of 3.56% per annum and will mature on 27 April 2027. The net proceeds from this issue will be applied by SGT to fund its ordinary course of business. The bond will be issued on 27 April 2022. Post hedging, the effective S$ interest rate is below 3% per annum.||Singtel, UOB, ADDX||Financial Institution, Fintech, Others||Launched||Ethereum||ADDX||View project||07/03/2023||Medium|
|SIX Digital Exchange (SDX)||Europe||Capital Markets and Exchanges||Customer-facing, Infrastructure||Custodian Service, Exchange||To provide a safe and consolidated space for digital asset trading||Switzerland’s SIX Digital Exchange (SDX) is the world’s first fully regulated Financial Market Infrastructure offering issuance, listing, trading, settlement, servicing, and custody of digital assets||SIX||Financial Institution||Launched||Corda||R3||View project||27/02/2023||Medium|
|Societe Generale SFH Covered Bond||Global||Retail Finance, Corporate Finance, Capital Markets and Exchanges||Customer-facing||Bond Tokenisation||The live transaction explores a more efficient process for bond issuances, mainly product scalability and reduced time to market, through computer code automation structuring, for better transparency, faster transferability and settlement||On 18 April 2019 Societe Generale SFH issued EUR 100m of covered bonds (OFH) as a security token, directly registered on the Ethereum blockchain. OFH Tokens have been rated Aaa / AAA by Moody’s and Fitch and have been fully subscribed by Societe Generale. This operation is the first pilot project developed by Societe Generale and Societe Generale FORGE, one of the 60 internal startups launched via the Internal Startup Call, the Group’s intrapreneurial programme. This startup experiments disruptive business solutions using blockchain technology to develop new digital capital market activities.||Societe Generale||Financial Institution||Launched||Ethereum||Ethereum||View project||07/03/2023||Medium|
|SWIFT API-based CBDC Project||Global||Corporate Finance, Government & Regulators||Infrastructure||Trade Messaging Network, Cross-Border Payments, CBDCs||To determine the value of a CBDC interlinking solution for central and commercial banks, and to deliver a production-ready solution that’s capable of supporting instant and frictionless cross-border payments using CBDCs.||The SWIFT API-based CBDC Project was a sandbox to build on its previous test that SWIFT could interlink the world's CBDCs and payment systems. Participants were able to test transaction flows between the three simulated networks - Quorum, Corda, as well as a simulated RTGS network. The results of the sandbox testing indicated the potential and value of the CBDC interlinking solution for central and commercial banks and demonstrated that the solution supports interoperability between CBDCs and enables them to be used in simulated cross-border payments. Following the success of the sandbox testing, SWIFT is moving to develop a beta version of the interlinking solution to be used for further testing by central banks.||SWIFT, Banque de France, Deutsche Bundesbank, Monetary Authority of Singapore, BNP Paribas, HSBC, Intesa Sanpaolo, NatWest, Royal Bank of Canada, SMBC, Société Générale, Standard Chartered, UBS, Kaleido||Financial Institution, Central Bank||Concluded||Quorum, Corda||ConsenSys, R3, Kaleido||View project||13/03/2023||Medium|
|SWIFT DLT POC||Global||Corporate Finance||Infrastructure||Cross-Border Payments, Post-Trade Reconciliation, Distributed Ledger||To determine if DLT could deliver the business functionalities and data richness required to support automated real-time liquidity monitoring and reconciliation.||DLT proof of concept for Nostro reconciliation. The PoC sought to assess whether DLT, combined with Swift assets, would meet industry-level governance, security and data privacy requirements, whether DLT could bring concrete benefits over other architectures, and to check DLT’s current level of maturity to serve as a production-grade application within a mission-critical global infrastructure||SWIFT, Deutsche Bank, Bank of China, ANZ Bank, ERSTE Group, BNP Paribas, Commerzbank, Citi, FirstRand, DBS, BNY Mellon, Lloyds Bank, Sberbank, Santander, Nedbank, Standard Chartered, TD Bank, Wells Fargo, Societe Generale, UniCredit, Westpac, Rabobank, RBC, Mashreq, ABN AMRO, ABSA, Alfa-Bank, China Construction Bank, BBVA, JP Morgan, China Minsheng Bank, Intesa Sanpaolo, SMBC, BMO Financial Group, Standard Bank||Financial Institution||Concluded||Hyperledger||View project||27/02/2023||Medium|
|SWIFT gpi Link POC||Global||Corporate Finance, Capital Markets and Exchanges||Infrastructure||Trade Messaging Network, Cross-Border Payments, DLT, Fund Settlement||To allow banks to provide rapid, transparent settlement services to e-commerce and trading platforms, opening up whole new ecosystems to the speed, security, ubiquity and transparency of gpi and enabling them to grow and prosper in the new digital economy.||gpi Link will seamlessly connect multiple trade platforms to gpi members, enabling gpi payment initiation, end-to-end payment tracking, payer authentication and credit confirmation. The gateway will also allow the continuous monitoring and control of payment flows and the subsequent movement of goods by those trade platforms. The PoC tests DLT using R3's Corda to show how SWIFT gpi can enable off-ledger settlement. The link can work with any DLT provider as well as non DLT based trade platforms.||SWIFT, BBVA, Citi, Deutsche Bank, HSBC, Intesa Sanpaolo, Sumitomo Mitsui Banking Corporation and Société Générale, R3, Rice Exchange||Financial Institution||Proof of concept||Corda||R3||View project||13/03/2023||Medium|
|Swissborg||Global||Retail Finance, Investment||Customer-facing||Cryptocurrency, Yield Farming, Tokens, Brokerage||SwissBorg aims to provide trust and security to its clients by being a straight through processing broker that seggregates community funds, preventing SwissBorg from using customer's funds and ensuring a fully redeemable 1:1 basis of assets even in the event of a bankruptcy. SwissBorg's strength lies in finding the best price, liquidity or yield rate through its connections with multiple exchanges and DeFi protocols.||SwissBorg is a wealth management company which provides fair, safe and accessible applications to facilitate investment in crypto assets. SwissBorg runs as a custodial cryptocurrency provider, facilitating individual custody by bearing the responsibility for safekeeping their users' crypto assets. Unlike traditional CEX apps, they operate as a straight-through processing broker with processes completely automated and free from human intervention. Customers can buy, sell and exchange cryptocurrencies with 16 fiat currencies, access financial tools such as yield wallets, and invest in crypto projects||Swissborg||Fintech||Launched||Ethereum||Swissborg||View project||27/02/2023||Medium|
|The Digital Interbank Network||United States||Corporate Finance||Customer-facing, Infrastructure||Payments||To enable 24/7 real-time payments without transaction limits while integrating with existing banking systems.||The Digital Interbank Network is a blockchain-based, real-time B2B payments network operating entirely within the existing regulatory framework of the U.S. banking system by Tassat. The network is comprised of only FDIC insured banks and allows real-time payments between banks 24/7 through a private permissioned blockchain that is only accessible by member banks. Though the solution uses blockchain, each payment is tied to a bank account at an FDIC-insured bank.||Tassat, Cogent Bank, Customers Bank, Western Alliance Bank, Byline Bank, California Bank of Commerce, Emprise Bank, First Foundation Bank, Lineage Bank, OceanFirst Bank, SouthState Bank, Texas Capital Bank||Fintech, Financial Institution||Launched||Tassat Blockchain||Tassat||View project||13/03/2023||Medium|
|Tradetrust||Singapore||Non-Financial||Environment Social and Governance||Framework||TradeTrust seeks to provide the following through its framework - Increased efficiencies through certainty - Reduced costs of paper documentation - Support for new service offerings through inter-operability, visibility and control||TradeTrust is a set of international standards and frameworks supported by open-source software that utilises blockchain-powered technology to digitalise the end-to-end processing of trade documents to ensure that documents issued can be verified in terms of their source and authenticity. This is achieved through a public blockchain offering interoperability to connect governments and businesses. TradeTrust is also aligned to the requirements of the Model Law of Electronic Transferable Records (MLETR) which Singapore has adopted into its legislation. Currently, TradeTrust supports all digital documents. Trade documents supported are from the 2 categories of documents.1) Transferable documents: Trade documents that entitle the holder to claim the performance of an obligation or ownership and the selected blockchain needs to be able to track and transfer ownership of the trade document. 2) Normal documents/Verifiable documents: Other non-transferable trade documents that do not confer ownership (e.g. invoices, packing list, certificate of origin, etc.). These trade documents can be verified for its authenticity, integrity and provenance.||IMDA, GovTech Singapore||Government Entity||Launched||Ethereum||GovTech Singapore||View project||27/02/2023||Medium|
|Trudatum||Poland||Retail Finance, Corporate Finance||Customer-facing, Compliance and Risk||Document Authentication||To provide confidence to customers by ensuring all documents can be verified for authentication||Bank Polski (PKO) has collaborated with Coinfirm to provide a blockchain-based document verification tool Trudatum. The project is a an actual implementation of one of the primary benefits of blockchain-based tools, namely its ability to permanently and immutably store data. The Trudatum tool essentially allows PKO BP to create “durable media” - “a digital solution for storing all agreements with clients that is now required by the law. When seeing a document marked with the Blockchain icon, the Customer can easily confirm its authenticity and be sure that it has not been changed.||Bank Polski, KIR, Coinfirm||Financial Institution, Fintech||Launched||Hyperledger Fabric||Coinfirm||View project||13/03/2023||Medium|
|UBS Digital Bond||Europe||Retail Finance, Corporate Finance, Investment||Customer-facing||Bond Tokenisation||To increase the speed and efficiency in bond settlements||UBS released the world’s first digital bond that is publicly traded and settled on both blockchain-based and traditional exchanges. The bond is traded on the SDX distributed ledger-based CSD network through atomic settlement technology, as well as the SIX Swiss Exchange. Settlement via SDX CSD is instant and automatic and does not require a central clearing counterparty. Investors will have the ability to automatically settle and clear the UBS digital bond on either SDX CSD directly or on SIX SIS via the operational link which was formally announced on 3rd October 2022.||SDX, UBS||Financial Institution||Launched||SDX CSD||R3||View project||27/02/2023||Medium|
|Uniswap||Global||Investment, Capital Markets and Exchanges||Customer-facing, Infrastructure||DAO, Cryptocurrencies, DEX, Cross-Chain Bridge||Uniswap aims to solve the traditional order book system liquidity issue of exchanges by providing a consistent liquidity pool, allowing people to exchange cryptocurrencies anytime.||Uniswap is a protocol and not a company with its development funded by the Ethereum (ETH) Foundation. Uniswap operates with a new type of trading model called an automated liquidity pool which solves the issue of requiring a crypto buyer and seller for a trade to occur. Uniswap incentivizes people trading on the exchange to become liquidity providers, pooling their money to create a fund that provides a constant liquidity and decides the prices through a math algorithm. All trading fees are distributed amongst the liquidity providers, which is how UNI maintains its capacity to operate.||Uniswap||Fintech||Launched||Ethereum||Uniswap||View project||27/02/2023||Medium|
|USDF Consortium||United States||Corporate Finance||Infrastructure||Financial Instruments Tokenisation, Payments||To build a network of banks to facilitate the compliant transfer of value on the blockchain, removing friction in the financial system and unlocking the financial opportunities that blockchain and digital transactions can provide to a greater network of users, essentially providing a safer, cheaper and more reliable system for consumers.||The USDF Consortium is a membership-based association of FDIC-insured banks to further the adoption and interoperability of a bank-minted tokenized deposit USDF. USDF is a “tokenized deposit” that represents an existing bank deposit on a permissioned blockchain ledger, rather than an asset that is pegged to another or backed by collateral. It is able to move betwen KYC/AML'd accounts at member institutions at a low cost, with real time transaction and settlement mechanism. USDF is built on the provenance blockchain, a proof of stake network purpose built for regulated financial institutions and optimized for high through put, low transaction costs and maximum security, and does not contain personally identifiable information either.||New York Community Bank, NBH Bank, FirstBank, Webster Bank, Synovus Bank, Figure Technologies, Inc., JAM FINTOP, Amerant Bank, Atlantic Union Bank, ConnectOne Bank||Others, Financial Institution||Launched||Provenance Blockchain||Figure Technologies||View project||13/03/2023||Medium|
|Veris||Global||Corporate Finance, Capital Markets and Exchanges||Customer-facing, Infrastructure||Financial Instruments Tokenisation, Clearing and Settlement, Trade Messaging Network, Post-Trade Reconciliation||To provide a transparent, automated one-stop platform that is in compliance with regulation for the lifecycle of equity swaps derivatives, reducing the time and manpower required.||Fintech company Axoni has developed a distributer ledger network for equity swap transactions. Their equity swap derivatives network, Veris, is designed for the end-to-end process of trading equity swaps. The system can be used to match and manage allocation processes on trade date, standardise data, and match and reconcile post-trade data on stock swaps. Major asset management firms such as BlackRock, Goldman Sachs, Citi, HSBC and UBS have started using the platform over the years.||Axoni||Fintech||Launched||AxCore||Axoni||View project||27/02/2023||Medium|
|XRP Ledger||Global||Retail Finance, Corporate Finance||Customer-facing, Infrastructure||Distributed Blockchain Network, Cross-Border Payments||XRP aims to be faster and more efficient, as well as at a lower cost and requiring less energy compared to other blockchains.||The XRP Ledger (XRPL) is a decentralized public blockchain that allows for the fast, low-cost, real-time transfer of XRP, fiat currencies, and other digital assets. It is also open source, meaning anyone can participate in its development. XRPL is the blockchain that the XRP cryptocurrency is a native token on. XRP ledger, while decentralized by nature and requires at least 80% approval in the network for any changes, can still possibly be controlled by Ripple who owns 60% of all XRP. Unlike most other blockchains, the XRP Ledger does not need mining, so no energy is wasted in the transaction process.||Ripple||Fintech||Launched||XRP Ledger||Ripple||View project||27/02/2023||Medium|
|Zodia||United Kingdom||Corporate Finance, Capital Markets and Exchanges, Investment||Customer-facing, Infrastructure||Custodian Services, CEX, Clearing and Settlement||Zodia Custody aims to provide a safe and secure platform for institutional investors to participate in the future of investing through heightened security, fraud prevention, proof of ownership and segregation of duty, whilst Zodia Markets aims to be the most trusted and reliable trading partner for corporations, institutions and professional investors navigating the digital asset markets.||Zodia comprises of Zodia Custody, an institutional grade cryptoasset custody solution enables institutions to invest safely and securely in cryptoassets, and Zodia Markets, a digital asset brokerage and exchange platform enabling institutional traders to access deep pools of liquidity in Bitcoin, Ethereum and other digital assets||Northern Trust, Standard Chartered||Financial Institution||Launched||Fireblocks||Fireblocks, Chainalysis||View project||16/03/2023||Medium|
Register to receive a new use case per day in blockchain
and digital assets. No spam, just blockchain.
The blockchain industry has various technology and numerous projects and stakeholders, making it complex to categorise. CFTE created a taxonomy containing different sectors to help the industry understand the blockchain landscape. The taxonomy is from the Blockchain and Digital Asset Programme, led by CFTE and SMU.
Sectors are used to categorise blockchain projects in financial services to better understand and analyze the specific applications in the financial industry. This allows for targeted investment, regulation, research and development efforts, etc. These are the seven sectors that cover the finance ecosystem.
Capital Markets & Exchanges
Government & Regulator
To better understand the main applications of blockchain technology in financial services, we categorize blockchain projects into four applications: customer-facing, infrastructure, ESG, and compliance and risk. These categories help to identify the primary areas of adoption and potential benefits of blockchain in the industry.
Blockchain solutions that directly interacts with customers, increasing efficiency and accessibility.
Blockchain systems that improve operations with secure data sharing, faster settlements, and efficiency.
A framework that can increase sustainability, improve ESG data reporting, and facilitate impact investing.
Compliance and Risk
Risk management processes that enhance security, immutable record-keeping, improved KYC/AML .
The definition of blockchain suggests that it is a type of distributed database or ledger that helps in recording all transactions throughout multiple computers. The aim of blockchain is allowing digital information to be recorded and distributed, and those information cannot be edited.
A digital asset is a unit of data that is created and stored digitally which is identifiable, discoverable, and that is used to realize or represent ownership, value, utility, or other characteristics. Many digital assets are stored on blockchains, such as cryptoassets and can be digital representations of tangible or intangible assets, such as digital identity.
The future of Blockchain and digital asset ecosystem is fascinating and changeable, so it is essential to understand the market trends and technologies. We have built courses and published the relevant report to help you get the latest industry knowledge and thrive in the new digital world.
Explore blockchain directly from those who built them
The course covers the essentials of blockchain and digital assets, providing participants with the skills to transition from traditional finance to a new world of digital finance.
Know the new job roles and most in-demand skills in the Blockchain industry