INTL FCStone’s precious metals unit to use blockchain technology for post-trade needs

The London-based precious metals division of INTL FCStone is to use blockchain technology developed by Paxos for its post-trade needs, the company said.

The technology, known as the Paxos Confirmation Service, will be used to automate confirmations for the division’s thousands of daily trades, reducing errors and securing instantaneous reconciliation. Post-trade settlement has been identified within the global financial markets as an area ripe for efficiency and cost improvements via blockchain technology. Charles Cascarilla, chief executive officer and co-founder of Paxos, said the company’s goal has been to build...

Published

Andrea Hotter

August 08, 2018

13:00 GMT

New York