Blockchain Daily News - DLT, token, ICO journal quotidien
              

ABN Amro moves escrow accounts to the blockchain


ABN Amro Clearing services is to offer a blockchain-based alternative to escrow accounts for money-management organisations that need to segregate and lock up client funds during the course of a transaction.






The Dutch banks says that running funds over a distributed ledger drastically reduces administrative costs for organisations that manage client funds - such as brokers, exchanges, pension funds, notaries, and product service providers - by eliminating escrow account management costs. With the new service, every individual client of the non-bank organisation gets a bank account with the ABN Amro Clearing Bank (AACB) via a permissioned blockchain.

The first client to use the service is white label stock exchange Nxchange, which operates a platform where companies and financial institutions issue and trade equity and bonds.

Nxchange CEO Marleen Evertsz, says: “We can't wait to get started on this cooperation. The solution simplifies the way investors can invest in businesses and other issuers. Block chain technology also offers a wider future perspective to facilitate transactions in multiple asset categories in distributed networks.”

Nxchange will operate as a guinea pig to test the new service before it is released more widely, says AACB's Jan Bart de Boer. "The next step is to jointly check and assess the new functionality and to make improvements where necessary," he says. "After that, the service can be made more widely available. We're seeing a great deal of market interest for this service.”

Les médias du groupe Finyear

Lisez gratuitement :

BLOCKCHAIN DAILY NEWS

Le quotidien Blockchain Daily News :
- Blockchain Daily News

Sa newsletter quotidienne :
- Blockchain Daily News Newsletter
Recevez chaque matin par mail la newsletter Blockchain daily News, une sélection quotidienne des meilleures infos et expertises en Blockchain révolution.

Sa lettre mensuelle digitale :
- The Chief Blockchain Officer


FINYEAR

Le quotidien Finyear :
- Finyear Quotidien

Sa newsletter quotidienne :
- Finyear Newsletter
Recevez chaque matin par mail la newsletter Finyear, une sélection quotidienne des meilleures infos et expertises en Finance innovation & Digital transformation.

Ses 4 lettres mensuelles digitales :
- Le Directeur Financier
- Le Trésorier
- Le Credit Manager
- The Chief Digital Officer

Finyear magazine digital :
- Finyear Magazine

Un seul formulaire d'abonnement pour choisir de recevoir un ou plusieurs médias Finyear

Tuesday, February 20th 2018
Rate it


New comment:

Your email address will not be published. Required fields are marked *
Votre adresse de messagerie ne sera pas publiée. Les champs obligatoires sont indiqués avec *

More on Blockchain Daily News