Forex settlement provider CLS announced on Wednesday that its CLSNet is now live with US banking giants Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS). CLSNet is a blockchain-based bilateral payment netting service for more than 120 currencies. Besides Goldman and Morgan Stanley, six more companies from North America, Europe, and Asia will apply the solution, including Bank of China’s Hong Kong branch. In the coming months, the network is expected to expand by adding even more banks and financial institutions.

CLSNet is based on distributed ledger technology (DLT), an umbrella term that comprises blockchain. Its bilateral payment sys…

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