Indian IT services company Tata Consultancy Services (TCS) announced on April 10 that it carried out what it defines as the world's first cross-border securities settlement between two central depositories using the Quartz blockchain.
The Central Securities Depositories (CSD) involved are reportedly Maroclear, the CSD of Morocco, and Kuwait Clearing Company, the CSD of Kuwait. During the test, a set of equities and fixed income securities from both markets were created on the chain along with accounts to hold them, and were instantaneously transferred.
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