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A trial of Blockchain equity swaps has been a “100% success” say banks as Bitcoin hits new price records.
Both Bitcoin and Blockchain made history Tuesday as prices hit a new all-time high and Wall Street completes new integrations.
As Bloomberg reports, a group of major banks including Goldman Sachs, JPMorgan and Credit Suisse saw a six-month Blockchain trial for equity swaps achieve “100% success.”
In partnership with startup Axoni, Blockchain allowed any changes in swaps to be immediately visible and is now on its way to becoming mainstream.
“We’re on a path to take this forward,” Axoni CEO Greg Schvey told the publication in an interview. “We know the thing works now.”
The move is all the more remarkable given the highly skeptical stance towards cryptocurrency by some of its participants. As certain jurisdictions such as Russia continue to underline, Blockchain in certain adapted forms is gaining traction across traditional finance in ways Bitcoin and decentralized principles still struggle to compete with.
Nonetheless, Bitcoin is healthier than ever. Data from across exchanges confirms a new all-time price high around $8,350 as of press time, capping a remarkable transformation in the last week.
Turbulence at Tether, issuance of which was thought to have hugely influenced Bitcoin’s price run, has done nothing to deflate markets.
In a further sign of the optimism from the small but rising sector of Wall Street enamored with Bitcoin, investor Mike Novogratz told Bloomberg TV that 2017 would finish with a $10,000 price and $500 for Ethereum.
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