The PoC will look into how shared ledger technology can be used to settle tokenized commercial bank money, wholesale central bank money, US Treasury securities, and other tokenized assets. It will be led by regulatory body Sifma and include Swift, Mastercard, TD Bank, and other participants.

The goal is to create a programmable shared ledger that can run on an interoperable network for multi-asset transactions around-the-clock. This project will investigate tokenized cash and securities settlement on a common system in more detail, building on the findings of an earlier industry Proof of Concept.

The RSN PoC will mimic multi-asset transactions in US dollars and be carried out in a test environment.

According to Mastercard's EVP of blockchain and digital assets, Raj Dhamodharan, "the application of shared ledger technology to dollar settlements could unlock the next generation of market infrastructures - where programmable settlements are 24/7 and frictionless."

Adding to the discussion, Charles de Simone, Managing Director at Sifma, emphasizes the importance of exploring shared ledger technology as an initiative to innovate with digital forms of USD cash and securities. He highlights this exploration as crucial for market participants as they strive to support efficient and resilient capital markets.

Although the PoC participants have not committed to any further research, the findings will be published.