Bitcoin-inspired ledger technology is taking its first steps in foreign-exchange markets. Companies that provide payments systems to banks are unveiling products that use distributed ledgers to lower the costs of cross-border transactions, amid signs that stricter regulations have pushed smaller lenders to cut their participation in currency...
CLS Group, the New York-based company that settles the majority of the world's currency transactions, is planning to launch a blockchain-based forex service. The service will be available in three different currencies, according to an announcement on its website. The new service will use Hyperledger, an open-source collaborative project, which is also used by Swift, the global provider of secure financial messaging services.