Euroclear and itBit have partnered to launch Paxos , a new company that will use Euroclear 's proprietary technology to create next generation trading services for the London gold market . Bankchain is a private partnership of trusted partners that clears , tracks and manages trades in close to real - time . The blockchain technology will be available to financial institutions as a cloud - based platform - as - a - service , and Paxos CEO , Charles Cascarilla , claims that the platform is " just the beginning " of the partnership 's venture into blockchain - based settlements .
Euroclear and itBit have partnered to launch Paxos, a new company that will use Euroclear's Bankchain technology to create next generation settlement services for the London gold market. Bankchain is a private network of trusted participants that clears, tracks and settles trades in close to real-time. The blockchain technology will be available to financial institutions as a cloud-based platform-as-a-service, and Paxos CEO, Charles Cascarilla, claims that the platform is "just the beginning" of the partnership's venture into blockchain-based settlements.