France uses the blockchain on the OTC securities market

The French government was allowed to use a blockchain platform for OTC trading – new rules allow banks and other organizations to officially launch them, not resorting to services of intermediaries.

At the same time the securities have been listed on the stock exchanges, will still be required to pass through clearing houses and other financial institutions.

«The use of the blockchain will allow FINTECH firms and other financial institutions to develop a new fast, cheap, transparent and secure means of securities trading,» said Finance Minister Bruno Le Mer.

According to him, the new rules will attract companies in the financial sector in Paris, who seeks to win the title of FINTECH capital of Europe now occupied by London.

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