On the 19th April 2021, the UK Chancellor, Rishi Sunak announced a package of initiatives to place the UK at the centre of the global FinTech landscape. One of those initiatives was the publication of a policy statement regarding a new type of “omnibus” account at the Bank of England (‘the Bank’). Here at Fnality International, this is a hugely exciting and much anticipated development in our ongoing objective to create a global network of distributed wholesale payment systems. In this blog post, we will explore what the omnibus account is and why it is so important in realising the Fnality vision.
Following 25 years working in post trade banking roles, an opportunity arose to try something different - FinTech.
Earlier this year, the Financial Stability Board authored a paper on stablecoins: 'Addressing the regulatory, supervisory and oversight challenges raised by 'global stablecoin' arrangements'.