China Securities Depository and Clearing Corporation and Russian National Clearing Corporation announce cooperation to study the application of blockchain in post-trade processing

The central securities depositories of Russia and China have signed a cooperation agreement to jointly study the use of blockchain in post-trade processing.

Russia’s National Settlement Depository (NSD) and China Securities Depository and Clearing Corporation (CSDC) announced yesterday that they will “exchange experiences and information” on a range of related issues. The cooperation also involves experiments in financial technology, including blockchain technology.

Eddie Astanin, chairman of the NSD executive board, said that the two institutions’ research on fintech and blockchain is the main purpose of this cooperation.

(Chairman of the NSD Executive Board)

Cooperation in the field of financial technology is the focus of our cooperation with CSDC, especially blockchain technology. We have reached an agreement on the research direction, mainly exploring the application of blockchain in the post-trading field.

In August this year, NSD announced its blockchain voting project. They developed a technical prototype that can vote directly on the ledger. NSD told Coindesk that blockchain technology can help financial companies open up new markets and services.

CSDC representatives also recently expressed their views on blockchain technology, calling for active participation from regulators.