Four more banks join CLSNet

Bilateral payments netting service using distributed ledger tech now has nine firms live

distributed-ledger-technology
Live on the network: signed-up firms include Bank of America, Bank of China (HK), Goldman Sachs and Intesa Sanpaolo

Actinver, BNP Paribas, Citibank and JP Morgan are live on CLSNet, a standardised, automated bilateral payments-netting calculation service for more than 120 currencies, operating on a distributed ledger technology (DLT) platform.

Nine market participants are now live on CLSNet – including Bank of America, Bank of China (Hong Kong), Goldman Sachs, Intesa Sanpaolo and Morgan Stanley – with several others due to join over the coming year, according to CLS, the market infrastructure firm delivering

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