Project shows blockchain making FX trades faster and safer – NY Fed

Blockchain

The first stage of a Federal Reserve Bank of New York project has found that blockchain technology could make wholesale cross-border payments faster and safer.

The New York Fed released its Project Cedar phase-one results on November 4, examining blockchain’s ability to carry out wholesale payments. This is the first project from the New York Innovation Center (NYIC), a collaboration between the Bank for International Settlements (BIS) and the NY Fed.

The first phase focused on blockchain’s

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