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Goldman Sachs, IBM, and Morgan Stanley Launch CLSNET, A Blockchain-Based FX Market Enterprise

CLSNet, a Bilateral payment netting service has officially launched CLSNET, a standardized, automated platform developed for digital ledger technology (DLT). Financial institutions Goldman Sachs, and Morgan Stanley are major participants with six other financial services, which includes the Bank of China.

This newly released system plans to gather several more members during the coming months, providing services in over 120 currencies and allowing members to submit FX instructions to CLSNet for spot, forwards, non-deliverable forwards, swaps and same day trades.

The announcement says,

“There are many FX market participants that do not net the payments in respect of FX trades, instead choosing to settle on a gross basis. These gross payments have full exposure to settlement risk, resulting in higher intraday liquidity demands and causing institutions to hold more capital.”

The system has been integrated with Swift channels optimized intraday liquidity and improve operational efficiency.

CLSNETw was developed alongside IBM. It currently runs on the Linux Foundation’s Hyperledger Fabric blockchain framework, and is the very first FX market enterprise blockchain-based application to be made.

Our Thoughts

With the launching of this new system, financial services and institutions are shifting towards be more robust infrastructure and slowing integrating blockchain-based solutions to their business. It’s only a matter of time when we start seeing even more vast improvement.

Which giant institute will be jumping in on this new service?

Let us know your thoughts.

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Keith Wang

Keith Wang is a writer and programmer specializing in bitcoin and blockchain technology. Keith has been a long time believer of bitcoin and blockchain technology and spends his free time following up with blockchain news. You can contact Keith at

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