Consensys Partners with ClearToken to Provide 24/7 Settlement Infrastructure for Wholesale Financial Markets

BlockBeats news, October 9, according to official sources, Consensys and UK digital and traditional asset market infrastructure group ClearToken announced a strategic partnership aimed at helping banks migrate tokenized assets and cash to infrastructure supporting 24/7 operations, while meeting the wholesale financial market's requirements for legal certainty, risk control, and compliance. The two parties will combine the technical finality and settlement finality of blockchain: Consensys provides cryptographic technical guarantees to ensure that on-chain transaction records cannot be tampered with; ClearToken is committed to ensuring that the transfer of funds and assets is legally final and irrevocable.

According to the cooperation plan, ClearToken CSD Limited will rely on the approval of the second phase of the Bank of England's Digital Securities Sandbox to support the tokenization of eligible securities held by different banks and confirm them as fungible unified financial instruments. Combined with the group's payment institution ClearToken Depository Limited, which is authorized by the UK Financial Conduct Authority (FCA), the two parties plan to support settlement between relevant securities and cash via delivery versus payment (DvP), with settlement assets including fiat currency, tokenized deposits, and stablecoins, and achieve uninterrupted operation 7 days a week, 24 hours a day.