Global Layer 1 (GL1) Whitepaper
The Monetary Authority of Singapore (MAS) published a paper that introduces the Global Layer One (GL1) initiative, a multi-purpose, shared ledger infrastructure based on distributed ledger technology (DLT) and governed by common technological standards, principles and practices, on which regulated financial institutions across jurisdictions could deploy tokenized assets. It is envisaged that the architecture of GL1 could be described as the base layer in a four-layered conceptual model for digital asset platforms introduced in MAS “Project Guardian: Enabling Open and Interoperable Networks” and IMF “ASAP: A Conceptual Model for Digital Asset Platforms” papers. [Read more at the MAS]
DBS, JP Morgan, Mizuho test FX PvP DLT solution on Partior
Partior completed a proof of concept for FX payment versus payment (PvP) settlement using its blockchain network, with JP Morgan, DBS Bank and Mizuho. The trial showcased the effectiveness of Partior’s FX PvP solution in eliminating FX settlement risk across both emerging market and advanced economy currencies, and same-day-value trades, with 24×7 real-time and atomic settlement. It also highlighted the solution’s capability to provide just-in-time liquidity across these currencies as well as real-time visibility and status throughout the transaction life cycles for participants. [Read more on Ledger Insights and Partior’s LinkedIn page]
Upcoming Speaking Engagements:
- CBDC Conference, Istanbul, September 10-12. The conference will offer representatives of central banks, commercial banks, technology providers, policy makers and academics the perfect platform to learn about the latest CBDC developments, exchange ideas with experts and peers. [Find out more and register here][Central bank delegates may be eligible for free registration (email registration@cbdc-conference.com to find out more)]
- Digital Currency Conference, London, September 23-24. The conference will bring together policymakers, regulators, and technology and innovation experts to network and discuss all aspects of digital currencies. And enter the KiffmeisterDCC code at registration to get a 20% discount! [Find out more and register here]
And just a reminder that I produce a monthly digest of central bank digital currency (CBDC) developments exclusively for the official sector. So (only) if you work at a central bank, ministry of finance or international financial institution (e.g., the BIS, IMF, OECD, World Bank) and who would like to receive it by email on the first business day of every month, please DM me on LinkedIn or email me at john@kiffmeister.com.
