Baton Systems and Osttra have teamed up with Fnality to bring a new settlement option to their FX network. The collaboration will integrate Fnality’s blockchain-based payment system into Baton’s payment-versus-payment (PvP) foreign exchange settlement platform. Users of Baton will soon have access to the Fnality Payment System (FnPS), which maintains a digital record of reserves held at the central bank. This partnership will allow for real-time payment of FX transactions 24/7, offering traders more flexibility when it comes to settling trades.
The proof-of-concept phase has been completed, paving the way for Baton users to leverage the benefits of FnPS. With this new central bank-backed settlement option, traders can expect a smoother and more efficient process for settling FX transactions. The integration of Fnality’s payment system into Baton’s platform marks a significant step forward in the world of post-trade technology, offering users a reliable and secure way to conduct their transactions.
This partnership between Baton Systems, Osttra, and Fnality represents a key development in the FX market. By combining blockchain technology with traditional settlement processes, traders can enjoy the best of both worlds when it comes to settling their transactions. The addition of a central bank-backed payment system adds an extra layer of security and transparency to the settlement process, giving traders peace of mind knowing that their transactions are being handled in a secure and efficient manner. Overall, this collaboration is set to revolutionize the way FX transactions are settled, providing traders with a more streamlined and reliable process.
