Light/Dark
Breaking News
Home » News » Crypto »
February 28 2024
Rabobank, a leading global Money Market Dealer, has completed a series of groundbreaking pilots to execute more than €2 billion in commercial paper transactions on a first-of-its kind blockchain platform.
The platform, Ubermorgen, gives financial market participants instant access to funds through the automated issuance of commercial paper and certificates of deposit, highlighting the potential of blockchain technology for real-time settlement and enhanced real-time money market analytics.
The pre-production pilot programme, which is an industry-driven joint initiative, also underscores the adaptability and interoperability of blockchain in traditional financial instruments, connected to multiple legacy infrastructures. In addition, Ubermorgen showcases the power of real-time settlement, providing an unprecedented level of efficiency and transparency in the issuance and trading processes. This advancement promises to revolutionise the current settlement landscape and intra-day liquidity management.
In the recent trial-run, Rabobank Markets and Ubermorgen collaborated with Rabobank Treasury, TreasurySpring and two large asset managers, executing multiple commercial paper and time deposits in EUR, USD and GBP with a total notional of over two billion. Their active participation and endorsement signify the industry-wide recognition of the potential benefits of blockchain in the money markets.
The pilot also integrated cutting-edge analytics tools, providing market participants with real-time insights into money market trends. This data-driven approach enhances decision-making capabilities for treasurers, dealers and asset managers, offering a competitive edge in navigating the dynamic financial landscape.
Youssef el Mir, Global Head of Trading at Rabobank, said: “We are proud to have achieved this milestone in collaboration with esteemed global asset managers. This successful pilot demonstrates the transformative potential of blockchain in enhancing efficiency, transparency, and analytics in the financial sector.”
Steve Patrick, Chief Operating Officer at Ubermorgen, added: “Ensuring smooth interoperability between Distributed Ledger Technology (DLT) and established financial infrastructures is vital for a seamless shift toward the widespread adoption of DLT platforms in the market. We are delighted to collaborate closely with industry leaders in the financial markets to contribute to establishing the Ubermorgen real-time markets and A.I driven analytics platform as an industry-standard solution.”
Henry Adams, Chief Product Officer at TreasurySpring, added: “We are delighted to have worked with the high-calibre teams at Ubermorgen and Rabobank participating in this, the second round of pilots. The move to T0 and instantaneous settlement represents a significant milestone in the development of capital markets along with reducing credit risk in the financial system. TreasurySpring looks forward to now going live and contributing to the broader adoption of these technologies. There is immediate value in particular to several regulated sectors within our client base where day count is critical that we look forward to capturing on their behalf.”
Jacek Wieclawski, Head of Innovation at Rabobank, added: “The hybrid approach, global and instant interoperability is the future of finance. Our clients have shared their enthusiasm about this new solution, which blends the best of both worlds – the speed and flexibility of a distributed ledger technology and the reliability and compliance of a centralized system.”
Youssef el Mir
Rabobank
Jacek Wieclawski
Rabobank
Henry Adams
TreasurySpring
Steve Patrick
Ubermorgen
Rabobank
TreasurySpring
Ubermorgen
The Fintech Magazine
News
News
Events
Hiring
Bitget, the world’s leading crypto exchange and web3 company announced a strategic collaboration with Avalanche®, the fastest and most reliable smart contracts platform in the world. Bitget and Avalanche are leaders in the field of digital asset trading and blockchain technology respectively and the partnership is aimed at leveraging the combined strength of both global brands to enable grassroots adoption of web3 technology.
Top Story
As Layer 2 scaling solutions remain a focal point of industry discourse, Sonic presents a fundamental shift in blockchain architecture.
Top Story
Bitget, the leading cryptocurrency exchange and Web3 company, has announced a major upgrade to its Liquidity Incentive Program, set to take effect on May 1, 2025. The revamped program introduces a more competitive fee structure, enhanced rewards, and expanded coverage for both spot and futures markets. This strategic update aligns with Bitget’s commitment in 2025 to serving institutional investors, improving liquidity depth, and trading efficiency across its platform.
Top Story
PayPal and Coinbase announced an expansion of their partnership to increase the adoption, distribution, and utilization of the PayPal USD (PYUSD)
Top Story
Permutable AI today announced it’s giving away its powerful R2 Pattern Detection tool to all cryptocurrency traders for free
Top Story
Sopra Steria announces the launch of Sopra Crypto Solutions, a comprehensive white-label offering designed to accelerate the adoption of crypto-assets by banks
Top Story
Paydify has officially launched to enable businesses to accept crypto payments from any wallet or blockchain network
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Top Story
Kraken has launched this new asset class through a strategic partnership with Alpaca– an API-first brokerage platform and self-clearing broker-dealer for stocks, ETFs
Top Story
FinMont, the global payment orchestration platform purpose-built for the travel industry, is proud to announce the opening of a new office in Bogotá, Colombia
Top Story
With a projected GDP growth of 4.9% in 2025 and over $16 billion in foreign direct investment in 2024, Kazakhstan is no longer a frontier market — it’s a focal point for global capital flows.
Top Story
Mitek today announced the appointment of Garrett Gafke as Chief Operating Officer.
Top Story
InvestPro Turkiye Istanbul 2025 is set to be one of the most significant business events of the year, bringing together professionals from across multiple industries.
Top Story
InvestPro Turkiye Istanbul 2025 is set to be one of the most significant business events of the year, bringing together professionals from across multiple industries.
Join Our Newsletter.
Get all the latest News, Views and Exclusives, 100% free.
At Fintech Finance, we aim to produce the slickest episodes, interviews and event coverage, looking at the complete range of topics within financial services, from branches to blockchain. We travel extensively across borders to find the most interesting and undiscovered features, be it in Manchester or Mongolia. All of our video coverage is written up into our extensive magazine library that consists of “The Fintech Magazine,” “The Paytech Magazine,” and “The Insurtech Magazine.”
…basically, we travel around the world, chat to the best and brightest people in Fintech while making the most entertaining, exciting and insightful content in the industry!
Fintech Finance Awards Website
Rabobank successfully completes preproduction trial runs in commercial paper issuance and trading blockchain platform – FF News | Fintech Finance
