Company
Date Published
Author
Team Circle
Word count
617
Language
English
Hacker News points
None

Summary

Ownera has introduced the FinP2P digital securities interoperability protocol, integrating Circle's USDC stablecoin as an instant settlement currency, marking a significant step in digitizing private markets. FinP2P, an open-source protocol, facilitates seamless and instant settlement of financial securities trades across various platforms and custody services by ensuring synchronous delivery-versus-payment. This development addresses the inefficiencies of traditional financial systems, which often involve manual processes and delayed payments, particularly exacerbated in private markets. By leveraging stablecoins like USDC, which are gaining regulatory approval and are backed by fully reserved assets, FinP2P enables real-time, secure transactions on blockchain networks and enterprise distributed ledger technologies. Circle's infrastructure complements FinP2P's framework by offering instant, atomic payments and facilitating financial institutions in managing digital assets through sub-accounts and FIAT account integrations. This collaboration is paving the way for a new era of digital finance, urging financial institutions to adapt to these innovative digital infrastructures.