According to PANews, ten institutions have successfully completed a simulation trial of a regulated settlement network (RSN), exploring the use of a shared distributed ledger technology (DLT) network for settling tokenized transactions. This trial extends the previous regulated liability network experiment conducted last year, which included tokenized commercial bank money and tokenized central bank money on the same network. The recent trial also involved tokenized government bonds and investment-grade bonds on a shared ledger, facilitating the delivery versus payment for wholesale transactions. Additionally, the trial explored interoperability with external DLT networks.
The Securities Industry and Financial Markets Association (SIFMA) coordinated the participating institutions, which included major financial entities such as Citibank, JPMorgan, Mastercard, Swift, TD Bank North America, U.S. Bank, USDF, Wells Fargo, Visa, and Zions Bancorp. SIFMA led the initiative, aiming to enhance the efficiency and security of financial transactions through the use of advanced DLT systems. The trial's success marks a significant step forward in the integration of blockchain technology into mainstream financial operations, potentially paving the way for more widespread adoption in the future.