ING teamed up with HQLAx in 2018 to carry out the first-ever blockchain-based live securities trade
ING announced it has invested in securities lending platform HQLAx. The bank’s team developed the initial blockchain-based version of the HQLAx app, facilitating efficient and high-speed trading of high-quality liquid assets.
Together with Credit Suisse, ING bank swapped €25 million worth of high-quality liquid assets using the collateral lending application of HQLAx on R3’s Corda distributed ledger platform.
Besides, banks are mandated to have high-quality liquid assets to meet the Basel III regulatory framework requirements. These are assets that can easily be converted into cash without losing their value.