Phase 2 of Capital Markets Risk Mitigation Framework Released | Key Contributors Include Hedera, Chainlink, and Euroclear
Edited By
Marko Petrovic
The second phase of the Capital Markets Risk Mitigation Framework (RMF) was released on April 15, 2026, featuring major players like Hedera, Chainlink, and Euroclear. As the framework aims to address non-financial risks in blockchain usage, its implications for financial institutions are significant.
Groundbreaking Collaboration
The RMF is a product of collaboration among a diverse set of contributors, including:
Core Contributors: DTCC, Euroclear, Hedera, Chainlink, and more.
Risk Assessment Partners: Dfns, Kaiko, and Metrika.
Observers: Asian Development Bank, European Central Bank, and The World Bank.
This initiative goes beyond mere policy statements. It attempts to create a reusable risk framework for public blockchains, citing the importance of recognizing both public permissioned and public permissionless blockchains.
Addressing Institutional Concerns
This new phase highlights critical concerns surrounding:
Governance Risk: Institutional hesitation stems from hard forks and slow decision-making processes.
Finality Risk: Hedera's aBFT consensus promises deterministic finality within seconds.
Node Concentration: The framework emphasizes the risks posed by cloud dependencies.
"Public blockchains have matured enough to be serious financial infrastructure,” the document states.
Notably, the framework's structured categories—novel risks, adapted risks, and standard risks—represent a pragmatic approach to blockchain integration.
Stakeholder Perspectives
Comments surrounding the RMF reveal mixed sentiment. One participant stated, "Hedera is a big winner," underscoring the strong governance model it offers compared to less structured alternatives. Conversely, some express dissatisfaction over the lack of focus on retail users, emphasizing the framework’s enterprise-centric approach.
✅ Framework acknowledges public permissioned blockchains as a viable risk strategy.
⚠️ Governance concerns remain a primary hurdle for institutions.
📊 Institutions must engage rather than adopt a passive stance towards blockchain services, indicating a shift in how banks operate.
The RMF's release and the attention on Hedera signal a potential pivot in how the finance industry views blockchain. As regulators and institutions start adopting this framework, the groundwork for broader acceptance of public blockchains is undeniably laid.
Future Financial Landscape with Blockchain
There’s a strong chance that as the Capital Markets Risk Mitigation Framework gains traction, we will see a surge in institutional investments in blockchain technologies. Experts estimate around 60% of financial firms may explore public blockchains within the next year, primarily due to enhanced governance models like those offered by Hedera. Additionally, as the RMF tackles critical issues such as governance and finality risk, more institutions could adopt hybrid strategies that combine both public and private blockchains to optimize their operations. This could lead to a significant redefining of the financial infrastructure, as banks will likely pivot away from traditional systems towards a more integrated blockchain approach, improving transaction efficiency and security.
Lessons from the Evolution of Railroads
A fresh parallel can be drawn from the evolution of railroads in the 19th century. Initially met with skepticism, railroads faced significant scrutiny over safety and governance concerns. As communities began to recognize the efficiency and economic benefits they brought, investment surged. Similarly, the current phase of blockchain technology is meeting its wave of initial hesitation, yet its proven advantages are positioning it as a cornerstone of modern finance. Just as railroads reshaped trade and transportation, the adoption of robust frameworks for blockchain risk management could pave the way for a transformative era in financial services.