The collaboration will make every Ownera router “Fnality-ready” and enable access to Fnality’s payment systems
- Fnality and HQLAXcomplete the first end-to-end test of a cross-chain repo trade settlement at a precise moment in time, demonstrating interoperability across platforms
- Plan to launch wholesale cross-chain repo transactions in Q4 2024, subject to UK regulatory approvals
The issue of the environmental impact of blockchain systems is complex. Blockchain can be an energy-intensive technology – sometimes requiring a huge amount of processing power and consumption. At Fnality, we have adopted a specific mechanism for our network of payment systems, which minimises energy consumption by design to overcome the sustainability challenges often presented by distributed ledger technology (DLT) – while unlocking the many benefits that it offers.
In this blog, we explain the consensus mechanism adopted by Fnality and why this supports a key organisational goal of promoting sustainability and environmental stability.
- DLT-based Sterling Fnality Payment System (£FnPS) sees first live transactions utilising a digital representation of funds at central bank. Initial participants are Lloyds Banking Group, Banco Santander, and UBS.
- Latest funding round follows Series A of £55m in June 2019
- Lead investors include Goldman Sachs and BNP Paribas
The world of finance has been rapidly evolving with the rise of blockchain technology and cryptocurrencies. One individual who has played a crucial role in bridging the gap between traditional banking and the digital asset space is John Whelan, the Managing Director of Crypto and Digital Assets at Santander. In this blog post, we will explore John's interesting personal journey to his current position, Santander's involvement with our first-of-its-kind payment system and the many reasons why John is enthusiastic about the future of finance.
Fnality and HQLAX demonstrate together with Banco Santander, Goldman Sachs and UBS, the first cross-chain repo swap pilot across Corda and Enterprise Ethereum, paving the way for the settlement of intraday transactions
Fnality and Finteum have executed the first cross-chain FX settlement transaction test across the two platforms, reducing cross-currency settlement to T+0
We are delighted to welcome Nomura as a new shareholder, supporting our vision for a regulation-first, real-time, wholesale payments system.
