Distributed ledger technology in payments, clearing, and settlement.

The article discusses the rise of distributed ledger technology (DLT), an innovation in fintech, which has been used as a means of transforming payment, clearing and settlement (PCS) processes such as the transfer of funds and settlement of securities. DLT is noted to improve the end-to-end settlement speed, data auditability and cost efficiency of industry participants. The use of cryptography in facilitating PCS processes is also mentioned.