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19 April 2021

Credit Suisse Taps Blockchain to Settle Stock Trades in 1.5 Hours - Decrypt

Credit Suisse Taps Blockchain to Settle Stock Trades in 1.5 Hours - Decrypt


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Credit Suisse Taps Blockchain to Settle Stock Trades in 1.5 Hours.

Investment bank Credit Suisse is testing a blockchain service to settle stock trades in under two hours.

But this fund is too slow in times of crisis—like when Robinhood had to credit buyers of soaring Gamestop stock with billions of dollars it had yet to receive.

Credit Suisse’s old settlement system only completed trades on the same day if they were completed before 11AM. .

An upgraded settlement system can create safer, fairer and more open capital markets that foster innovation,” said Paxos CEO and co-founder Charles Cascarilla in a statement. 

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