On Tuesday, a coalition of banking institutions, including HBSC, Mastercard, and Wells Fargo, announced the creation of the Regulated Liability Network, a proof-of-concept digital money network.
The platform, according to the consortium, would leverage distributed ledger technology, often known as blockchain, to generate chances to enhance financial settlements. Central banks, commercial banks, and “regulated non-banks” such as BNY Mellon, Citi, PNC Bank, Swift, TD Bank, Truist, and U.S. Bank would also participate.
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