SWIAT CYCROS Whitepaper Coverpage

Enable DvP with CYCROS

Digital Assets on DLT are growing, but how do we enable the delivery of these assets versus payment with central bank money?

Together with DekaBank, SWIAT has drafted a whitepaper on how to introduce central bank money payments via a non-invasive trigger-based solution. The CYCROS mechanism allows entities to leverage legacy systems and achieving DvP with digital assets!

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Voices of the industry

"The development of Digital Assets is currently hindered by the lack of digital central bank money. With trigger solutions like this, financial market participants such as banks can already benefit from the advances of digital securities and they are paving the way for wider adoption."

Dirk Kipp, Global Head of Financial Institutions & Markets, LBBW

"Once assets go fully digital on DLT, we should expect a very steep ascendance of digital and decentralized finance. Delivery vs. Payment with central bank money would boost the adaption for capital market and treasury use cases, probably long before CBDCs can be implemented. Cycros describes a near-time solution by leveraging the existing payments infrastructure and thus offering a fast line towards financial innovation."

Michael Cyrus, Head of Collateral Trading and FX, DekaBank

"The most interesting, innovative, and effective aspect of this proposal is to leverage the existing cash infrastructure to quickly bring Delivery vs. Payment with central bank money to the DLT. Intraday risks are mitigated by simultaneous delivery of digital securities against exchange of central bank money. It is also a sustainable option and scalable to other currencies as it builds on the well- established ISO 20022 standard."

Dr. Timo Reinschmidt, European Head of Banks and Broker Dealers, Standard Chartered 

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CYCROS Whitepaper

Sign up for the SWIAT-Whitepaper CYCROS! The Whitepaper proposes, a non-invasive trigger-based solution that enables delivery of digital assets versus payment with central bank money, leveraging the existing concrete ISO 20022 messaging and SWIFT public key infrastructure.

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