Wall Street’s new blockchain apps face real-world test in 2024

Cryptocurrency firms may still be licking their wounds, but a slew of major financial companies including JPMorgan Chase & Co, HSBC Holdings Plc and Franklin Templeton are flipping the switch on new systems built around blockchain, marking an acceleration into 2024.

In the past week, a blockchain technology company backed by Goldman Sachs Group Inc, UBS Group AG and Banco Santander processed the first payments through a platform that’s been in the works for several years. Deutsche Bank AG’s asset manager, DWS Group, said on Wednesday it had partnered with firms including market-maker Flow Traders, to set up a company that will issue a stablecoin.