Wholesale DLT, or Wholesale Distributed Ledger Technology, refers to the application of blockchain and other distributed ledger systems specifically for interbank transactions and large-value settlements between financial institutions. This technology aims to streamline complex financial processes, reduce settlement times, and lower operational costs for wholesale markets. It provides a shared, immutable record of transactions accessible to all authorized participants. Wholesale DLT is typically permissioned, meaning access and participation are restricted to approved entities.
Context
The current state of wholesale DLT involves numerous pilot programs and ongoing research by central banks and financial consortia exploring its suitability for central bank digital currencies (CBDCs) and interbank payment systems. A key debate centers on the regulatory implications of DLT adoption in highly regulated financial sectors and ensuring robust cybersecurity measures. Future developments are anticipated to include the establishment of clearer legal frameworks, increased cross-border interoperability, and the potential for broader deployment in clearing and settlement operations.
The DLT-powered service provides corporate treasurers with real-time, 24/7 liquidity and T+0 settlement for cross-border fund transfers, optimizing global cash concentration.
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