BoE and BIS test synchronised DLT settlement 

Prototype leaves open legality of digitised asset transfer

Bank of England night Getty 174788162

The Bank of England and Bank for International Settlements London Innovation Hub have created a synchronised settlement prototype using distributed ledger technology (DLT) to automate the exchange of funds and assets. 

Project Meridian concluded that synchronisation is a “relatively simple way to reduce the time, costs and risk of a transaction”, the BIS said.

A “new entity” called the “synchronisation operator” allows participants to connect to a payments ledger – including a real-time gross

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