Tagged: settlement

July 12, 2024 @ 10:03 am By Omar Faridi  |  

Sygnum, a global digital asset banking group, announces the launch of Sygnum Connect, its 24/7 multi-asset instant settlement network. The network settles fiat, digital assets and stablecoin transactions “for institutional investors, liquidity providers, stablecoin issuers, brokers and selected exchanges.” Sygnum Connect fills the current industry… Read More

May 30, 2024 @ 9:46 pm By Omar Faridi  |  

The Canadian Securities Administrators (CSA) recently announced that rule amendments supporting the move to a shorter settlement cycle for equity and long-term debt market trades came into force in Canada. The amendments to National Instrument 24-101 Institutional Trade Matching and Settlement align with the industry’s… Read More

May 30, 2024 @ 10:03 am By Omar Faridi  |  

The New York Department of Financial Services (NYDFS) has shared a consumer alert update for Gemini Earn customers. Gemini Trust Company, a New York State chartered virtual currency entity, has reportedly returned more than $2 billion in digital assets to Earn customers. The NYDFS has… Read More

May 14, 2024 @ 1:03 pm By Omar Faridi  |  

The US transition to a T+1 settlement cycle is only two weeks away, and DTCC says that it continues to actively work with the industry and regulators to ensure a seamless transition to a T+1 settlement cycle on May 28th, 2024, with a focus “on… Read More

April 25, 2024 @ 9:24 am By JD Alois  |  

Anchorage Digital, a federally regulated bank, has announced a new crypto settlement service called Atlas or Anchorage Digital Trusted Liquidity and Settlement. Atlas will be able to settle both US dollars and digital assets and includes OTC settlement, OTC margin/collateral management, and off-exchange settlement.  Anchorage… Read More

April 21, 2024 @ 3:33 pm By Omar Faridi  |  

Failed crypto exchange FTX‘s investors have reportedly settled with former FTX CEO Sam Bankman-Fried in order to pursue key promoters. As first reported by Bloomberg, the agreement could release the crypto exchange co-founder from claims. In return, SBF may provide assistance so the concerned parties… Read More

April 19, 2024 @ 12:07 pm By Omar Faridi  |  

Hitoshi, Co-founder & Chief Product Officer at Alpaca notes that Alpaca has transitioned to self-clearing at DTCC. As noted in a blog post, this is a key milestone since they started “a regulated brokerage business five years ago.” It’s a pivotal milestone for them because this… Read More

November 24, 2023 @ 10:59 am By Omar Faridi  |  

Former CEO and Binance founder Changpeng Zhao‘s (CZ) departure from the firm will trigger some short-term volatility in the cryptocurrency market, but crypto will “continue to thrive as more institutional money pours in,” predicts the CEO of an independent financial advisory, asset management and fintech… Read More

August 21, 2023 @ 8:56 pm By Omar Faridi  |  

With the integration of Copper’s ClearLoop network, institutional clients can now securely store their digital assets in Copper’s MPC (multi-party computation) wallet while enjoying rapid settlement when trading on Bitget. Bitget, a crypto derivatives and copy trading platform, announces “the successful integration with Copper’s ClearLoop… Read More

August 1, 2023 @ 7:32 pm By Omar Faridi  |  

Corpay, a FLEETCOR (NYSE: FLT) brand and global leader in business payments, is pleased to announce that Corpay’s Cross-Border business has launched Netting Manager, a comprehensive solution that streamlines and automates the settlement process of internal invoices for corporations with global subsidiaries. Netting Manager allows… Read More

July 23, 2023 @ 10:29 pm By Omar Faridi  |  

BNY Mellon (NYSE:BK) announced it is now live on the Federal Reserve’s new instant payment rail, the FedNow Service, making it one of the first banks to begin sending and receiving payments from participating institutions and support payment activity through settlement or liquidity services. FedNow… Read More

July 14, 2023 @ 11:40 am By Omar Faridi  |  

Gemini Fund Solutions (GFS) says it is the one of the leading providers of custody, clearing/settlement, trading, and other capital markets services that have been specifically designed “for crypto exchange-traded funds (ETFs), closed-end funds (CEFs), and other fund vehicles.” Founded in 2020, GFS is reportedly… Read More

July 10, 2023 @ 7:01 pm By Omar Faridi  |  

PhonePe announced the launch of its Point-of-sale (POS) device that enables merchants to accept payments via Debit Cards, Credit Cards and UPI, providing them with a simple and seamless settlement experience. The device comes preloaded “with the PhonePe POS App and supports transactions through tap/swipe/dip and… Read More

June 19, 2023 @ 6:52 pm By Omar Faridi  |  

SimpleNexus, an nCino (NASDAQ: NCNO) company and developer of the U.S. homeownership platform for loan officers, borrowers, real estate agents and settlement agents, announced a new integration with Empower, Black Knight’s loan origination system (LOS). The bidirectional integration, “available to financial institutions including independent mortgage… Read More

September 27, 2022 @ 7:42 pm By Omar Faridi  |  

Visa (NYSE: V), one of the world’s leaders in digital payments, has announced its participation in the Canadian expansion of instant transfers, Square‘s solution for rapid merchant settlement. Square’s instant transfers are “enabled by Visa Direct, a VisaNet processing capability helping transform global money movement… Read More

September 19, 2022 @ 10:57 pm By Omar Faridi  |  

Upvest has selected BNP Paribas Securities Services to provide custody, clearing and settlement services. Recently, Upvest successfully “closed its $42m Series B financing with lead investor Bessemer Venture Partners – one of Germany’s biggest fintech fundings of the year.” The selection of BNP Paribas Securities… Read More

July 27, 2022 @ 10:47 am By Omar Faridi  |  

As from today, all Austrian and Spanish government debt securities cleared by LCH SA’s RepoClear service are “available for settlement through Clearstream Banking AG.” The two new markets “complement the existing proposition for Belgian, French and German government debt.” RepoClear clearing members can now “choose… Read More

July 13, 2022 @ 12:59 pm By Omar Faridi  |  

Clearstream has introduced data-powered solutions providing key insights into past, present and future of settlements: the Settlement Dashboard and the artificial intelligence (AI)-enhanced Settlement Prediction Tool. Market participants are planning to boost their settlement efficiency and liquidity with the Settlement Discipline Regime (SDR) coming into… Read More

February 23, 2022 @ 9:05 am By JD Alois  |  

tZERO ATS, a digital securities marketplace, now offers clearing and settlement securities transactions for itself and its broker-dealer affiliates in another step forward for its vision of the future of regulated securities. tZERO called the announcement a key milestone for its next-generation trading ecosystem. tZERO’s… Read More

December 13, 2021 @ 3:43 pm By Omar Faridi  |  

The first interbank Payment vs Payment (PvP) settlement outside of CLS has been completed using Baton Systems’ Core-FX solution, which is built on Baton’s distributed ledger technology (DLT) and “governed by the Baton Rulebook.” Standing at the threshold of a “new era” in FX settlements,… Read More