Published On: Sat, May 12th, 2018

Canadian Trifecta Successfully Tests Blockchain Securities Settlements

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Securities transactions facilitated via the blockchain may be an ubiquitous norm in the not-so-distant future. That steady march toward the mainstream continues as the Bank of Canada, TMX Group, and financial security non-profit Payments Canada have just successfully tested a blockchain-backed securities settlement platform.
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A New Way for Instant Settlements?
Tokenizing securities is commonly touted as one of the most promising use cases for distributed ledger technologies.
Canada’s central bank, the Bank of Canada, teamed up with Payments Canada and the TMX Group Limited — owner-operators of the Toronto Stock Exchange — in what’s being touted as a “successful” test of such settlements-minded digitization.
The pilot test involved the three organizations creating an “integrated securities and payment settlement platform […] to complete an instant settlement,” per Reuters.

Payments Canada CEO Gerry Gaetz sounded optimistic in the aftermath of the testing, noting the contrast with the status quo:
“This shows that it is possible to deliver payments in a way that has never …

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