{"id":168795,"date":"2023-10-05T16:24:16","date_gmt":"2023-10-05T10:54:16","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=168795"},"modified":"2023-10-05T16:24:16","modified_gmt":"2023-10-05T10:54:16","slug":"hkex-to-launch-smart-contract-settlement-platform-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/hkex-to-launch-smart-contract-settlement-platform-crypto-news\/","title":{"rendered":"HKEX to launch smart contract settlement platform &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Hong Kong Exchanges and Clearing Limited (HKEX) announced on Wednesday that it is implementing a smart contract upgrade to its Connect, a system that bridges Hong Kong and China\u2019s stock markets, to enhance post-trade workflows and reduce settlement risk.<\/p>\n<p><strong><em>See related article: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/sfc-monitor-illegal-vatp-activities-hong-kong-police-force\/\">SFC to monitor illegal VATP activities with Hong Kong Police Force<\/a><\/p>\n<h3 class=\"wp-block-heading\">Fast Facts<\/h3>\n<ul>\n<li>Set to launch on Oct. 9, Synapse, the new settlement accelerator, aims to improve market efficiency and transparency, through a smart contract upgrade to HKEX\u2019s Connect system.<\/li>\n<\/ul>\n<ul>\n<li>Synapse <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.hkex.com.hk\/-\/media\/HKEX-Market\/Mutual-Market\/Stock-Connect\/Reference-Materials\/Synapse\/HKEX_Synapse_Leaflet.pdf?la=en\">enables<\/a> all parties in the settlement chain to create simultaneous settlement instructions while providing nearly instant updates to all traders.<\/li>\n<\/ul>\n<ul>\n<li>\u201cThis technology-empowered platform will not only improve post-trade efficiencies but will, over time, build a better, stronger ecosystem, supporting both market growth and investor growth strategies,\u201d said Glenda So, the group head of emerging business and FIC, in a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/mondovisione.com\/media-and-resources\/news\/hkex-launches-synapse-a-settlement-acceleration-platform-for-stock-connect\/\">press release<\/a>.<\/li>\n<\/ul>\n<ul>\n<li>HKEX\u2019s upgrade comes during a period of increased institutional interest in blockchain technology, two weeks after the third largest banking institution in the U.S., <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/citigroup-digital-token-service\/\">Citigroup<\/a>, announced the launch of a blockchain-based cross-border payments solution for institutional clients called Citi Token Services.<\/li>\n<\/ul>\n<p><strong><em>See related article: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/hong-kong-jpex-scandal-says-ex-sfc-official\/\">Hong Kong may tighten enforcement amidst JPEX scandal, says former SFC official<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Hong Kong Exchanges and Clearing Limited (HKEX) announced on Wednesday that it is implementing a smart contract upgrade to its Connect, a system that bridges Hong Kong and China\u2019s stock markets, to enhance post-trade workflows and reduce settlement risk. See related article: SFC to monitor illegal VATP activities with Hong Kong Police Force Fast Facts [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":168796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-168795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/168795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=168795"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/168795\/revisions"}],"predecessor-version":[{"id":168797,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/168795\/revisions\/168797"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/168796"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=168795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=168795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=168795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}