The Depository Trust & Clearing Corporation, the world's largest securities settlement system processing $2+ quadrillion annuall
15 Sep 2023, 14:07
The Depository Trust & Clearing Corporation, the world’s largest securities settlement system processing $2+ quadrillion annually, is exploring Chainlink #CCIP to unlock tokenized asset interoperability.
@The_DTCC ’s Stephen Prosperi on the collaboration:
Same news in other sources
215 Sep 2023, 19:27
Delivery vs. Payment (DvP) settlement across two separate blockchains is a fundamental leap forward for the global financial system.
Made possible by CCIP.
What is DvP?
DvP is a form of settlement that requires payment for securities to be made before or at the same time as the securities are delivered. In other words, it ensures you get what you pay for.
How did DvP work before blockchains?
Before blockchains, DvP settlement required trusting a centralized intermediary to facilitate the transaction. But all this did was swap one counterparty for another, albeit usually a larger counterparty with less solvency risk. It made settlement safer, but it didn’t make it safe.
Why is Web3 a leap forward for DvP settlement?
DvP powered by Chainlink CCIP is a highly secure, flexible, and trust-minimized settlement process. Regardless of whether assets are stored on a private bank chain or public blockchain, CCIP can facilitate the secure settlement of assets without the need to trust any centralized intermediary or institution. Instead, asset owners can rely on smart contracts and cryptographic truth.
Where we’re at right now:
ANZ is at the forefront of this innovation, using CCIP to demonstrate how tokenized assets can be settled securely cross-chain. But this is just the beginning.
As the blockchain interoperability standard for capital markets, CCIP is on a path to underpin DvP settlements for markets transacting hundreds of trillions of dollars annually.
CCIP is set to #LinkTheWorld
Delivery vs.
Delivery vs. Payment (DvP) settlement across two separate blockchains is a fundamental leap forward for the global financial system.
Made possible by CCIP.
What is DvP?
DvP is a form of settlement that requires payment for securities to be made before or at the same time as the securities are delivered. In other words, it ensures you get what you pay for.
How did DvP work before blockchains?
Before blockchains, DvP settlement required trusting a centralized intermediary to facilitate the transaction. But all this did was swap one counterparty for another, albeit usually a larger counterparty with less solvency risk. It made settlement safer, but it didn’t make it safe.
Why is Web3 a leap forward for DvP settlement?
DvP powered by Chainlink CCIP is a highly secure, flexible, and trust-minimized settlement process. Regardless of whether assets are stored on a private bank chain or public blockchain, CCIP can facilitate the secure settlement of assets without the need to trust any centralized intermediary or institution. Instead, asset owners can rely on smart contracts and cryptographic truth.
Where we’re at right now:
ANZ is at the forefront of this innovation, using CCIP to demonstrate how tokenized assets can be settled securely cross-chain. But this is just the beginning.
As the blockchain interoperability standard for capital markets, CCIP is on a path to underpin DvP settlements for markets transacting hundreds of trillions of dollars annually.
CCIP is set to #LinkTheWorld
https://t.co/vaEL3fS0W8
15 Sep 2023, 17:07
. @The_DTCC settles quadrillions of dollars worth of securities transactions annually.
#Chainlink CCIP unlocks interoperability for the tokenized asset market.
Discover how Chainlink and DTCC are collaborating in this new blog by Stephen Prosperi:
@The_DTCC settles quadrillions of dollars worth of securities transactions annually.
. @The_DTCC settles quadrillions of dollars worth of securities transactions annually.
#Chainlink CCIP unlocks interoperability for the tokenized asset market.
Discover how Chainlink and DTCC are collaborating in this new blog by Stephen Prosperi: https://t.co/DyqUc0miFH