MasterCard and Major US Banks Trial Interbank Tokenized Settlement System

The RSN PoC system is expected to leverage the capabilities of distributed ledger technology for processing transactions in tokenized assets of commercial banks, wholesale central bank digital currencies (CBDCs), securities, as well as US Treasury obligations and other tokenized assets. ??

In the interbank tokenized settlement system testing, participants will include US Bancorp (NYSE: USB), Wells Fargo (NYSE: WFC), Swift, TD Bank NA Citigroup (NYSE: C), VISA, USDF, Zions Bancorp (NASDAQ: ZION), and JPMorgan. ??

The functionality testing of the RSN PoC settlement system will be conducted in a test environment, simulating transactions with multiple tokenized assets denominated in US dollars for interbank settlements and internal users of credit institutions. ??

The program manager functions for RSN PoC are entrusted to the Securities Industry and Financial Markets Association (SIFMA). ????

Consulting services and ensuring compliance with existing US laws for the system's operation are assigned to the consulting corporation Deloitte. ??

Six additional participants, the non-profit corporation MITRE, BNY Mellon, Broadridge, DTCC, ISDA, and Tassat Group, have been engaged in the project as independent experts. ??

A year earlier, the American corporation MasterCard and the British blockchain company Fluency entered into a partnership agreement to jointly process payments in central bank digital currencies. ??