The $1quadrillion derivatives market turning to Blockchains
By Jonny Fry on The Capital
2 Min video about arguably the biggest asset class DERIVATIVES and how Blockchain technology is impacting on them — https://youtu.be/Z0bROpgLGN8
Founded in 2015 Clearmatics is the technology partner that has been selected by Fnality which has been working with a number of institutions and Central banks to create five stablecoins linked to £, Yen, Euro Canadian $, and US$. Fnality was previously called Universal Stable Coin and BIS has called it a wholesale stable coin.
Built on the private version of the Ethereum Blockchain called Autonity.
Fnality this time last year raised $62+million from 14 different banks. Fnality is similar to the JP Morgan Jcoin project but the advantage it offers other banks is that its ownership is much broader and hopefully can achieve faster functionality and number of users given it is already owned by 14 different banks. Olaf Ransome, at Fnality, is hoping Fnality will get the green light from Fed, Bof E, or the ECB by Q3 2020.
The derivative market is massive with estimates at $1 quadrillion, OTC derivatives were $558 trillion as of June 2019 (source: BIS). With guidance set by ISDA, which has embraced smart contracts. The derivative market represents a massive…
