UK FinTechs Fnality, Nivaura and Adhara collaborate with NatWest and Santander to execute first cross-chain pilot debt transaction on public Ethereum and Fnality Payment System
Traditionally, the functions of financial market infrastructure (which includes payment systems) have been centrally administered and operated by a single entity. There is a growing movement within the wholesale financial market towards decentralisation in order to reduce reliance on centralised intermediaries and “unlock billions in capital and liquidity”. Decentralisation is at the core of our design principles at Fnality. Both the technology underpinning the Fnality Payment System (‘FnPS’) and our organisational design are based on the concept of decentralisation. There will be no ‘single point of failure’ should a server go down or ‘single point of attack’ from malicious actors...
Bank of England publishes an omnibus accounts policy to enable innovative payment systems
