Citi to partner with Nasdaq on blockchain banking integration

May 22, 2017 11:00 AM ETCitigroup Inc. (C)BTC-USDBy: Clark Schultz, SA News Editor20 Comments
  • Citi (NYSE:C) announces a partnership wtih Nasdaq on a blockchain system.
  • The new integrated payment solution enables straight through payment processing and automates reconciliation by using a distributed ledger to record and transmit payment instructions.
  • The company says the partnership leverages the blockchain infrastructure platform and draws from the innovation of industry leaders.
  • The blockchain integration is seen helping address the challenges of liquidity in private securities by streamlining payment transactions between multiple parties.
  • "This new payment capability marks a milestone in the global financial sector and represents an important moment in the commercial application of blockchain technology," says Nasdaq CEO Adena Friedman.
  • Related tickers: COIN, BTCS
  • Source: Press Release

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