💥DTCC'S PROJECT ION BEING DISCUSSED AT OPTIC 2022💥

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? The Dinarian on Locals brings you the latest in news, interviews, in-depth conversations, and stories from across the blockchain and global communities—within and beyond cryptocurrency ?. Experts delve into how blockchain technology is reshaping industries, enhancing business networks ?, transforming transaction workflows, and advancing distributed ledger systems ??. We also explore intriguing topics that may venture into the realm of conspiracies—and so much more!

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thedinarian@thedinarian

September 28, 2022

💥DTCC'S PROJECT ION BEING DISCUSSED AT OPTIC 2022💥

(DINARIAN NOTE: Below is an August article describing Project ION, a DTCC collusion with R3's CORDA platform. Also a few screenshots from OPTIC2022, which is happening right now in Europe. There is a lot going on behind the scenes, well out of the average Joes eyes. Stay focused as THEY will make it APPEAR that DIGITAL ASSETS ARE ALL BUT DEAD. KEEP YOUR EYES ON THE PRIZES... WE ARE CLOSE... 2023 IS ONLY A FEW MONTHS AWAY! ISO2022 coins will begin MASS integration in 2023 and be FULLY INTEGRATED within ALL financial systems by 2025)

DTCC'S PROJECT ION PLATFORM NOW LIVE IN PARALLEL PRODUCTION ENVIRONMENT, PROCESSING OVER 100,000 TRANSACTIONS PER DAY ON DLT

Project Ion represents one of the largest DLT initiatives in equities settlement across the financial services industry.

👉DTCC has selected R3’s Corda as the underlying DLT technology for the Project Ion platform

New York/London/Hong Kong/Singapore/Sydney, August 22, 2022 ‒ The Depository Trust & Clearing Corporation (DTCC), 👉the premier post-trade market infrastructure for the global financial services industry, today announced that its Project Ion platform, which is being developed as an alternative settlement platform 👉 leveraging distributed ledger technology (DLT), has gone live in a parallel production environment while upholding the firm’s rigorous resiliency and safety standards. The Project Ion platform is now parallel processing an average of over 100,000 bilateral equity transactions per day, and almost 160,000 transactions on peak days, with DTCC subsidiary, The Depository Trust Company’s (DTC’s), classic settlement systems remaining the authoritative record.

DTCC’s private, permissioned DLT platform was developed in collaboration with many of the world’s leading market participant and technology provider firms, 👉including Apex Clearing Corp., Barclays, BNY Mellon, Charles Schwab Corp., Citadel Securities, Citi, Credit Suisse Securities USA LLC, Fidelity Investments, Fnality International, Goldman Sachs & Co., J.P. Morgan, Morgan Stanley & Co, Raymond James Financial Inc., Robinhood Securities LLC, State Street Corporation, and Virtu Financial Inc.

The goal of Project Ion is to ultimately provide a resilient, secure and scalable alternative settlement service to clients, with the 👉option to leverage DLT for those firms who wish to take advantage of the emerging technology. DTCC partnered with leading enterprise technology provider 👉 R3 to develop and launch the Project Ion platform leveraging 👉R3’s Corda DLT software.

“This is a milestone achievement for the equity markets and reflects the deep level of collaboration and partnership between DTCC and our clients,” said Murray Pozmanter, Managing Director, President of DTCC Clearing Agency Services and Head of Global Business Operations. 👉“Project Ion is an important step forward in advancing digitalization in financial markets and opens the door to exciting, new opportunities to drive greater efficiencies, risk management and cost savings for the industry. 👉 Digitized assets and emerging technology like DLT are shaping and evolving the financial services landscape, and we remain committed to advancing innovative solutions that capitalize on opportunities, deliver new value and drive the industry forward.”

Project Ion is being designed to adhere to rigorous regulatory standards and deliver the resiliency, volume capacity, security, scalability and risk controls that DTCC is known for. 👉 Project Ion is also being built to support a netted T+0 settlement cycle, as well as T+2, T+1 and extended settlement cycles.

“Project Ion provides a parallel book and infrastructure for limited 👉bilateral transactions, with DTC’s existing systems remaining the authoritative source of transactions. 👉With firms across the industry at different levels of maturity around DLT adoption, DTCC is building this platform to provide optionality and flexibility to clients. 👉Those who are ready to leverage the Project Ion platform can begin development efforts today while others can continue to use our classic solutions,” added Michele Hillery, General Manager of Equity Clearing and DTC Settlement Service at DTCC.

With the production 👉parallel now live, DTCC is working closely with its clients on a phased expansion of the platform. The Project Ion platform will continue to be enhanced according to client and industry needs. Future enhancements may include additional DTC activities and capabilities as well as the expansion of Project Ion to DTCC subsidiary National Securities Clearing Corporation (NSCC) to take advantage of NSCC’s central counterparty (CCP) trade guarantee for every cleared transaction.

About DTCC

With over 45 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From 21 locations around the world, DTCC, through its subsidiaries, automates, centralizes and standardizes the processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm simplifies the complexities of clearing, settlement, asset servicing, data management, data reporting and information services across asset classes, bringing increased security and soundness to financial markets. In 2021, DTCC’s subsidiaries processed securities transactions valued at nearly U.S. $2.4 quadrillion. Its depository provides custody and asset servicing for securities issues from 177 countries and territories valued at U.S. $87.1 trillion. DTCC’s Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes 16 billion messages annually.

Links:
https://www.dtcc.com/
https://www.dtcc.com/news/2022/august/22/project-ion
https://twitter.com/AFME_EU
https://www.bankofengland.co.uk/

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thedinarian@thedinarian

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Since launch, the Soroban Security Audit Bank has successfully conducted over 40 essential audits, deploying over $3 million to support security of the smart contracts on Stellar. Check it out!

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SDF has been a strong partner as we’ve worked with teams across the Stellar ecosystem. SDF’s Audit Bank initiative allows for a smooth and streamlined review process, and is a clear reflection of the Stellar ecosystem’s enhanced commitment to security. –Robert Chen, CEO of OtterSec

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What's New in 2025: Enhanced Audit Support for Soroban Builders

Teams building financial protocols, high-dependency data services, high-traction dApps funded by the Stellar Community Fund are able to request an audit and will typically be matched with a reputable audit firm within two weeks. We recently restructured the program for this year to enhance audit efficiency and incentivize accountability, and rapid and complete vulnerability remediation:

Complimentary Initial Audit: Projects will need to contribute 5% of the audit cost upfront, but this co-payment amount is eligible for a full refund, provided that critical, high, and medium vulnerabilities identified are swiftly remediated within 20 business days of receiving the initial audit report (learn more).
Incentivized Security at Key Traction Milestones: Complimentary, extensive follow-up audits are available as projects achieve critical traction milestones (e.g., $10M and $100M TVL). These audits include deeper assessments such as formal verification or competitive audits, significantly boosting project security at pivotal stages.
Advanced Security Tooling: Projects can enhance their security self-serve through complimentary or discounted access to specialized tooling, which provide vulnerability detection and formal verification capabilities (see full list of available tooling). These tools are encouraged to capture ‘easy-to-spot’ issues prior to audit as well as a final check post-audit to increase the effectiveness and thoroughness of audits.
Enhanced Audit Readiness Support: Projects receive structured preparation support, including the implementation of best practices and security standards based on the STRIDE threat modeling framework. This ensures project teams are thoroughly prepared, optimizing audit efficiency and minimizing delays.

Get Started Today

If you're already funded through the Stellar Community Fund, meet the criteria and ready to secure your smart contracts, check your email for an invitation to submit an audit request–if you haven’t received one, contact [email protected].

If you haven't built on Stellar yet, we encourage you to start your journey with the Stellar Community Fund to become eligible for future security audits and ecosystem support. For any broader questions on the program, contact [email protected].

Also, we’re organizing an exciting series of workshops–join us for the kick-off on Soroban Security Best Practices on Friday, May 30, 2025 at 2 PM ET on @StellarOrg. Together, we're shaping a secure and resilient future for smart contracts on Stellar.

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thedinarian@thedinarian

May 31, 2025

Santander mulls stablecoin, crypto offering

Bloomberg reported that Banco Santander is mulling introducing euro and dollar stablecoins, or potentially making a third party coin available to clients, citing sources. This move aligns with broader crypto ambitions, as its digital bank, Openbank, has reportedly applied for a European cryptocurrency license under the Mica Regulations and may enable retail access to digital assets.

Systemically important banks embrace stablecoins?

Major banks are now moving from observers to participants in this expanding market. Should Santander confirm plans to launch a stablecoin, it will be the fourth global systemically important bank (G-SIB) to do so. Societe Generale’s FORGE subsidiary launched the EURCV euro coin in 2023. Deutsche Bank is a partner in ALLUnity, another stablecoin initiative with plans to launch this year, subject to regulatory approval. And Standard Chartered is part of a joint venture in Hong Kong that intends to introduce a stablecoin.

Santander’s involvement could extend beyond an individual initiative. The bank is a shareholder in The Clearing House, where the Wall Street Journal reported that US banks are exploring the potential to create a joint stablecoin. If a US initiative took that route it could involve nine more G-SIBs including Bank of America, Barclays, BMO, BNY Mellon, Citi, HSBC, JP Morgan, TD Bank and Wells Fargo.

Apart from these initiatives, our research shows that more than 20 other banks have been involved in stablecoin projects.

Until recently stablecoins were mainly used to settle cryptocurrency transactions and by residents in countries with volatile domestic currencies. During the last year stablecoin infrastructure has been expanding, especially for mainstream cross border payments. Plus, President Trump issued an executive order prioritizing stablecoins. One of the administration’s motivations is this increases demand for US Treasuries, lowering the interest rate the government pays on the Treasury bills.

Santander as an early digital assets mover

Santander’s stablecoin consideration builds on years of blockchain experience. The bank was an early Ripple investor and previously used Ripple’s permissioned network for payments (not XRP), while also embracing permissionless blockchain activities including issuing a digital bond on Ethereum in 2019. This dual approach led to collaborations with other major players – alongside Societe Generale FORGE and Goldman Sachs, Santander participated in the European Investment Bank’s first digital bond, also on Ethereum. Currently, the bank’s most significant digital money initiative involves Fnality, the wholesale blockchain-based settlement network, where Santander ranks among 20 institutional backers and is part of the early adopter group alongside Lloyds Bank and UBS.

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