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Stock impact report

Northern Trust Appointed as Global Custodian and Cash Manager by Haycen

Northern Trust Corporation (NTRS) 
Last northern trust corporation earnings: 4/21 07:29 am Check Earnings Report
Company Research Source: Business Wire
LONDON--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) announced today that it has been selected by Haycen Bermuda Ltd. (Haycen) – a trade finance digital payments provider, with operations in the UK and Europe – to deliver global custody and money market fund services.Haycen delivers wholesale stablecoin-based solutions for non-bank lenders in global trade. Haycen offers global trade participants increased availability to USD in a digital format alongside an instant settlement capability, reducing the traditional friction associated with cross-border liquidity transfers. Haycen provides fully collateralized single currency pegged stablecoins in multiple currencies, seeking to reward its clients for maintaining their funds in Haycen’s digital payment ecosystem.Under the new mandate, Northern Trust Asset Servicing will provide Haycen with global custody services for its client fiat deposits. Northern Trust Asset Management will provide cash sweep services.Ian Hamilton, head of Asse Show less Read more
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