INTERNATIONAL: Worlds Largest CSDs Forming a New Blockchain Consortium

It is comprised of institutions tasked with holding vast amounts of the world’s financial instruments, the fledgling consortium is emerging from talks that have been ongoing since last year.

While the formal membership of the group has yet to be revealed, CoinDesk has learned that early participants of the exploratory effort met last month in London and that the work is ongoing.

Hosted by ‘Big Four’ consulting firm EY, the meeting was designed to give the companies, including the DTCC, Canadas CDS, the Moscow Exchange Group and South Africa’s Strate, a better understanding of how blockchain technology might change their roles in the future.

What started as informal conversations last October have since evolved into the more formal working group, with members including Russia’s National Securities Depository, Switzerland’s SIX Securities Services, the Nordic subsidiary of Nasdaq and Chile’s DCV.

Still, even as the members are expected to share knowledge about how to optimize their services for blockchain, each group is building its own platform designed to interoperate with the others.

Currently, the potential founding members of the CSD consortium are in discussions to help define the parameters of the collaborative effort.

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