Nevertheless, Paxos says it plans to push ahead with its platform without Euroclear, with a launch set for 2018, according to Banking Technology. In 2016, the companies completed their first pilot for the service for London bullion – with a go-live planned for 2017, the online publication continued. Over 600 OTC test bullion trades were settled on the Euroclear Bankchain platform over the course of the two-week pilot.
The participants in that pilot from 2016 included Scotiabank, Société Générale, Citi, Dutch financial institute MKS PAMP Group and INTL FCStone, a New York-based finserv advisory company. All are part of the Euroclear Bankchain Market Advisory Group.
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