London-based blockchain firm Fnality has begun actively trading with a digital version of assets held at the Bank of England.
According to the statement made by Fnality, the company’s Sterling Fnality Payment System was launched with the participation of Lloyds Banking Group, Banco Santander and UBS.
Fnality enables settlements, collateral management, and real-time wholesale payments across global financial markets. increase speed and reduce cost It aims to close the gap between mainstream finance and digital finance.
Hyder Jaffrey, who manages UBS’s strategic initiatives, said: “Creating a new systemically important global payment system, “It’s a once-in-a-generation event.” said.
The first transactions in the system are those that the Bank of England started using in 2021. omnibus through accounts such as made in sterling.
Transactions are carried out using central bank money, allowing corporate customers to about payment It instills confidence.
One of the company’s goals for next year is to expand to other currencies, including the dollar and euro. Enterprise-level payment systems based on blockchain to develop.