BNP Paribas is the latest bank to go live on Fnality’s DLT settlement system. The bank executed an interest rate swap payment to Lloyds on the Sterling Fnality Payment System (£FnPS). The reason why Fnality has attracted 20 major institutional backers is the payment instrument represents tokenized central bank reserves.
That means institutions can take advantage of the low risk settlement instrument and also benefit from the efficiencies and programmability enabled by Fnality’s solution.
“We believe platforms such as Fnality will be instrumental in building interconnected, global networks that support real-time settlement and more intelligent, cross-border liquidity solutions,” said Hubert de Lambilly, Head of Global Markets, Continental Europe Middle East and Africa at BNP Paribas.
BNP Paribas is the fourth of Fnality’s backers that has publicly announced its platform integration, with Lloyds, Santander and UBS going first. The company said that the bank is the latest in a pipeline of institutions onboarding.
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