Consensys and post-trade infrastructure company ClearToken said on Oct. 8 that they are partnering on a framework intended to let banks transfer tokenized assets and cash through round-the-clock infrastructure, with eligible securities settled 24/7 using fiat, tokenized bank deposits, or stablecoins.
According to the announcement, the two companies plan to connect Consensys’ blockchain system with ClearToken’s regulated post-trade entity. The statement did not say a new public blockchain or a new settlement venue had been put into production. It instead described how the firms plan to connect tokenization, wallets, distribution, cash movement, and the legal finality tied to securities settlement.
How the roles are split
Consensys will provide cryptographic finality, described as the technical certainty that on-chain transactions cannot be changed. ClearToken will handle settlement finality, meaning the legal certainty that a transfer of funds or securities is final and irrevocable.
Regulatory status and planned asset coverage
ClearToken said its securities depository has passed Gate 2 of the Bank of England’s Digital Securities Sandbox. Its independent clearing entity still needs authorization from the Bank of England.
ClearToken CSD Limited plans to convert eligible securities held by different banks into fungible tokenized instruments and use the same ISIN as the corresponding traditional securities.
At launch, the custody plan is intended to support FTSE 350 stocks, sterling gilts, sterling corporate bonds, and non-sterling corporate bonds.
Sandbox custody caps
The announcement listed the following sandbox custody limits:
- Gilts: £600 million
- Sterling corporate bonds: £900 million
- Non-sterling corporate bonds: £1.8 billion
The announcement did not identify the participating banks, the network to be used, any wallet product, or the date of the first transaction.