Payment system MasterCard and several US banks announced the creation of a Regulated Settlement Network (RSN) with a proof-of-concept (PoC) blockchain.
The RSN PoC system is expected to leverage the power of shared ledger technology for settlement of tokenized commercial bank assets, wholesale central bank digital currencies (CBDCs), securities, as well as US Treasuries and other tokenized assets.
US Bancorp, Wells Fargo, Swift, TD Bank NA Citigroup, VISA, USDF, Zions Bancorp and JPMorgan will take part in testing the interbank tokenized settlement system.
The RSN PoC settlement system will be tested in a test environment and simulate transactions with several tokenized assets denominated in US dollars for interbank settlements and internal users of credit institutions.
The Securities Industry and Financial Markets Association (SIFMA) is entrusted with administering the functions of the RSN PoC program manager. Consulting services and monitoring of the system for compliance with existing laws of the United States are entrusted to the consulting corporation Deloitte. Six more participants, the non-profit MITER Corporation, BNY Mellon, Broadridge, DTCC, ISDA and Tassat Group, are involved in the project as independent experts.
The RSN PoC system is expected to leverage the power of shared ledger technology for settlement of tokenized commercial bank assets, wholesale central bank digital currencies (CBDCs), securities, as well as US Treasuries and other tokenized assets.
US Bancorp, Wells Fargo, Swift, TD Bank NA Citigroup, VISA, USDF, Zions Bancorp and JPMorgan will take part in testing the interbank tokenized settlement system.
The RSN PoC settlement system will be tested in a test environment and simulate transactions with several tokenized assets denominated in US dollars for interbank settlements and internal users of credit institutions.
The Securities Industry and Financial Markets Association (SIFMA) is entrusted with administering the functions of the RSN PoC program manager. Consulting services and monitoring of the system for compliance with existing laws of the United States are entrusted to the consulting corporation Deloitte. Six more participants, the non-profit MITER Corporation, BNY Mellon, Broadridge, DTCC, ISDA and Tassat Group, are involved in the project as independent experts.
