Consensys and ClearToken announce strategic partnership to advance / tokenized-asset settlement in wholesale markets

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Consensys and ClearToken enter into a partnership to provide / settlement infrastructure for wholesale financial markets

BlockBeats news,October 9, according to an official announcement, Consensys and UK digital and traditional asset market infrastructure group ClearToken announced a strategic partnership aimed at helping banks migrate tokenized assets and cash to infrastructure that supports / operation, while meeting the legal certainty, risk control, and compliance requirements of wholesale financial markets. The two parties will combine blockchain technological finality with settlement finality: Consensys will provide cryptographic technology to ensure that on-chain transaction records cannot be tampered with; ClearToken will seek to ensure that transfers of funds and assets are legally final and irrevocable.

Under the partnership plan, ClearToken CSD Limited will rely on approval under Phase of the Bank of England's Digital Securities Sandbox to support the tokenization of eligible securities held by different banks and their recognition as a unified financial instrument with fungibility. Together with ClearToken Depository Limited, a payment institution authorized by the UK's Financial Conduct Authority (FCA) within the group, the two parties plan to support settlement between the relevant securities and cash on a delivery-versus-payment (DvP) basis. Settlement assets will include fiat currency, tokenized deposits, and stablecoins, with uninterrupted operation for 7 days per week and 24 hours per day.

Original link https://m.theblockbeats.info/flash/370891

Key points

BlockBeats reported that Consensys and UK digital and traditional asset market infrastructure group ClearToken announced a strategic partnership.
The two parties plan to help banks migrate tokenized assets and cash to infrastructure that supports / operation.
Consensys will provide cryptographic technology, while ClearToken will seek to ensure the legal finality and irrevocability of transfers of funds and assets.
ClearToken CSD Limited plans to rely on approval under Phase of the Bank of England's Digital Securities Sandbox to support the tokenization of eligible securities.
The two parties plan to settle fiat currency, tokenized deposits, and stablecoins on a delivery-versus-payment (DvP) basis, operating 7 days per week and 24 hours per day.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

This is an infrastructure partnership plan: placing tokenized securities and cash within a settlement arrangement that can operate /. Consensys is responsible for blockchain and cryptographic technology, while ClearToken is responsible for legal settlement and regulated payment arrangements.

Why it matters to readers

If implemented, the plan could give banks a / settlement arrangement capable of handling both tokenized securities and multiple cash assets; however, the original text only confirms a partnership plan.

It demonstrates how tokenized assets are attempting to connect to settlement processes in banking and wholesale financial markets. DvP means that delivery of securities and payment are completed simultaneously.

Risks and unknowns

The original text does not specify when the partnership will go live, how many banks will connect, or the actual settlement volume.
The original text lists stablecoins as planned settlement assets but does not specify their actual use.
The original text does not specify the scope of the approval under Phase of the Bank of England's Digital Securities Sandbox.

Consensys and ClearToken announce strategic partnership to advance / tokenized-asset settlement in wholesale markets

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