At a meeting of the IBAT Board of Directors last week, the board considered and approved initial funding for DTX, LLC, a wholly owned subsidiary of IBAT created for the purpose of facilitating a pilot program for the nation’s interbank tokenized deposit network.
In addition to the initial funding, interested banks can begin joining the consortium later this week.
“The consortium has dual purposes,” said IBAT President and CEO Christopher Williston. “It brings scale to the selection and development of the technology necessary to facilitate the network, while also providing consortium members with the compliance, governance and enterprise risk management frameworks that will be required to do it right.”
Banks interested in participating in and supporting the consortium should reach out to Christopher Williston at [email protected].
