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This week at Consensus, portfolio company Axoni and Clearmatics demonstrated for the first time how a financial instrument can be issued via a smart contract on one blockchain network, and then transfer value to a second blockchain network. Though blockchain interoperability is in the early phases, it may ultimate become critical if blockchain is to replatform capital markets.
The collaboration is significant also because of the clout of the players involved. Axoni, based in New York, is working with a wide range of leading financial institutions and infrastructure providers to move trillions of notional value in U.S. dollars onto blockchain tech across a variety of asset classes. Meanwhile, its partner in the demo, Clearmatics of London, is working with a consortium of banks and financial institutions to create digital fiat that is fully collateralized by cash at the corresponding central bank and transferable on a distributed ledger.
https://www.coindesk.com/axoni-clearmatics-claim-milestone-business-blockchain-interoperability/
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