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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/mastercard-collaborates-with-major-us-banks-to-test-ledger-technology/" data-wpel-link="internal">Mastercard Collaborates with Major US Banks to Test Ledger Technology</a> 
Payment technology giant Mastercard has collaborated with some of the largest banks in the USA to test shared ledger technology aimed at facilitating consensus on tokenized assets. These assets include commercial bank money, Treasury securities, and investable debt securities. The initiative, called the Regulated Settlement Network proof of concept, will simulate transactions in US dollars. According to Mastercard, the ultimate goal is to minimize risks related to errors and fraud while increasing the speed and efficiency of cross-border transactions. 
<h2 style="text-align: justify" id="strong-the-transformative-potential-of-ledger-technology-strong">The Transformative Potential of Ledger Technology</h2> 
The introduction of ledger technology could potentially revolutionize the current world of <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">financial</a> transactions. Currently, assets like commercial bank money and investment-grade debt securities operate on separate systems. However, converting these assets into tokens on a distributed ledger technology could unify consensus processes on a single platform. 
This trial builds on a previous 12-week test initiated in late 2022, focusing on domestic and cross-border payments in US dollars among banks. 
Notable participants in the trial include Citigroup, JPMorgan, Visa, Swift, and other major players in the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">finance sector</a>. Institutions like Bank of New York Mellon and International Swaps and Derivatives Association are also contributing their expertise to the success of the trial. 
While financial institutions worldwide are testing distributed ledger technology for tokenized transactions, the current trial does not guarantee commercial deployment. 
<h2 style="text-align: justify" id="strong-us-banks-seek-sec-s-help-to-participate-in-spot-bitcoin-etf-market-strong">US Banks Seek SEC’s Help to Participate in Spot Bitcoin ETF Market</h2> 
Some major banks in the USA are lobbying the Securities and Exchange Commission (SEC) for assistance in participating in the recently approved spot <a href="https://en.coin-turk.com/bitcoin-options-market-surge-signals-investor-optimism/" data-wpel-link="internal">Bitcoin</a> ETF market. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-349087" src="https://coin-turk.com/wp-content/uploads/2024/05/Spot-Bitcoin-ETF.png" alt="" width="497" height="739"> 
In a joint letter addressed to SEC Chairman Gary Gensler, leading <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">banking</a> associations including the Bank Policy Institute (BPI) and the American Bankers Association (ABA) have requested targeted amendments in Staff Accounting Bulletin No. 121 (SAB 121). 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/mastercard-collaborates-with-major-us-banks-to-test-ledger-technology/" data-wpel-link="internal">Mastercard Collaborates with Major US Banks to Test Ledger Technology</a></h5>

Mastercard Collaborates with Major US Banks to Test Ledger Technology

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