Global banks have been quietly leveraging blockchain technology to transform traditional banking systems. Here are 5 blockchain projects that highlight a growing commitment to blockchain, signaling its transformative potential for banking:
- Fnality International uses tokenized central bank money to streamline cross-border payments, promising near-instant settlements and reduced counterparty risks.
- JPMorgan’s Liink is a permissioned blockchain aimed at facilitating faster, secure interbank communications. It is supported by over 400 institutions through applications designed to enhance financial services (e.g. JPM Coin).
- Project Agora simplifies trade finance by tokenizing assets and reducing the reliance on paper-based processes.
- Canton Network synchronizes financial market transactions across systems while maintaining privacy through advanced cryptography.
- Versana Platform modernizes syndicated loan servicing with real-time data access, improving market efficiency and reducing errors.
