Mizuho Bank, Fujitsu Trial OAP Blockchain System for Securities Transactions
Mizuho Bank, Fujitsu, and Fujitsu Laboratories today announced that they have jointly conducted a trial using blockchain technology to reduce the processing time for cross-border securities transactions, from the current three days to same-day settlement.
The test took place between December 2015 and February 2016 utilizing the Open Assets Protocol (OAP), an open source platform linked to the Bitcoin blockchain.
The program’s goal is to enable low-cost, low-risk cross-border securities transactions utilizing blockchain tech. This will enable instantly sharing matched trade information in the post-trade process as tamper-proof data, without building a large-scale settlement system from scratch.