Share this article
Banking Giants Send $30 Million in Securities Over DLT
Credit Suisse and ING say they have successful sent securities worth €25 million ($30 million) over a system built with R3's Corda.
By Wolfie Zhao
Updated Sep 13, 2021, 7:37 a.m. Published Mar 1, 2018, 11:00 a.m.
Two major banks say they have successful sent securities worth €25 million ($30 million) over a blockchain-powered platform.
In an announcement today, Credit Suisse said it completed the live securities lending transaction with Dutch bank ING, adopting a collateral-lending blockchain application co-developed by a financial resource management firm HQLAX and enterprise blockchain consortium R3.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Credit Suisse said the application, built on R3's Corda distributed ledger platform, enables the two banking groups to swap legal ownership of Dutch and German government securities in a more efficient manner than with traditional systems.
According to a previous release, HQLAX launched the application in April 2017, in a joint effort with R3 and five of its member banks, including Credit Suisse and ING.
Romain Dumas, head of Rates Repo and Collateral Optimization at Credit Suisse Securities said of the trial:
"The success of this first live transaction speaks to the potential for blockchain technology to help improve collateral fluidity by creating a more efficient, transparent, and cost-effective marketplace for liquidity transfers."
While it's currently at the testing phase, Herve Francois, a blockchain initiative lead at ING, said in an interview with Reuters that the firms are expecting to see the application go live by the end of this year.
Credit Suisse image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
