Central Banking

Canada’s Project Jasper to explore clearing of securities in third phase

Bank of Canada facade

The Bank of Canada is launching the third phase of its distributed ledger project, looking to create a proof of concept for the clearing and settlement of securities using a central bank ‘cash-on-ledger’ model.

“This platform would seek to discover greater speed and efficiency by automating the securities settlement process,” Payments Canada, one of the project’s collaborators, says in a statement.

The cash-on-ledger approach, which was also employed in phases one and two, sees participants

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