Mizuho Bank eyes blockchain to speed international securities transactions

Japan's Mizuho Bank is considering using blockchain technology to speed the cross-border transfer of financial instruments.

It has just concluded a three-month trial of the technology with Japanese IT company Fujitsu.

Mizuho used the Open Assets Protocol in its trial to encapsulate the type and number of financial instruments being traded, the amount due and the currency used, the country of settlement, and the transaction date. The encapsulated data was then added to a blockchain as a new transaction, providing a tamper-resistant record of the trade.

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