KennedyX, Partners Achieve Cross-Chain DvP with Stablecoins

KennedyX and three other companies have completed a proof of concept for cross-chain Delivery versus Payment (DvP) using public blockchains and stablecoins.

The four companies, KennedyX, KDX ST Partners, Progmat, and Datachain, announced the achievement on July 31. They plan to use this technology to enable more efficient and secure digital securities trading.

As part of the proof-of-concept, the companies demonstrated that it is possible for issuers and investors to transfer ownership of a security token (ST) and settle payments using stablecoins simultaneously across different blockchains.