Mizuho Bank and Fujitsu Trial Blockchain to Streamline Cross-Border Securities Transaction Settlements
Mizuho Bank, Ltd., Fujitsu Limited, and Fujitsu Laboratories Ltd. today announced that they have jointly conducted an operational trial using blockchain technology (*1), which makes it practically impossible to tamper with transaction histories, to shorten the processing time for cross-border securities transactions, from the current three days to same-day settlement.
Combining Mizuho Bank’s expertise in post-trade processes as a leading Japanese custodian bank with the expertise of Fujitsu and Fujitsu Laboratories in designing and building payment systems, as well as in applied blockchain technology, the companies plan to utilize their respective strengths to create an exceptionally convenient financial system that reduces the risks associated with cross-border securities transactions, such as price fluctuations.
Source: Mizuho Bank
