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Securities Lending To Be Transferred To Blockchain In Germany

16:13 30/01/2019
Deutsche Börse To Provide Securities Lending On Blockchain

Deutsche Börse, the leading global stock exchange company, which organizes the work of various financial asset markets, informed about major progress in developing a blockchain platform for securities crediting, Cointelegraph reports referring to a press release of the organization.


Apart from Deutsche Börse, the specialists from HQLAx, a company from Luxembourg, which manages liquid assets on blockchain, are also involved in the platform development. Currently, six banks have decided to join Deutsche Börse and have begun concrete connection activities.


Representatives of the German firm stated the platform will be launched within the first six months of 2019. Now the employees are busy preparing the relevant legal documents, which will be adopted in the nearest future.


Deutsche Börse announced its initiative to create a tool for securities loans on distributed ledger in the spring of 2018. It was decided to take the R3' Corda platform as a basis since it was developed to make the process of managing high-quality liquid assets more efficient.


The technology is aimed to improve financing with securities and will be applied in other company’s activities, Jens Hachmeister, the chief of blockchain initiatives at Deutsche Börse, stated. The company made further investments in HQLAx in December.


Earlier, the Dutch ING Bank has concluded an agreement with the blockchain consortium R3 to use its commercial platform Corda.

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