The investment builds upon ING’s earlier involvement with the platform, as its blockchain team helped develop the initial version of the HQLAx application.
Deutsche Bundesbank and Deutsche Boerse have outlined the several advantages DLT will bring to increasing the speed and availability of collateral.
The project has been lauded by industry experts, and HQLAx founder Guido Stroemer was included in Global Custodian’s 30 to Shape the Future list.
Sibos 2019 in London saw several key announcements from securities services providers over the deployment of APIs, AI and DLT.
Collateral mobility system simulated transactions by several global banks including Commerzbank and ING, and confirms launch date.
Six banks have confirmed they have started the onboarding process and will join the platform at launch date, expected to be in the first half of 2019.