Fnality, the London-based company behind the Utility Settlement Coin (USC), has unveiled one of its potential applications. The blockchain-based coin with
investment from 15 global financial institutions will be used to instantly settle intraday foreign exchange (FX) swaps using the Finteum platform.
The two firms claim that by combining their platforms, it will create an intraday interbank borrowing system with no settlement risk. However, the joint initiative is still in the early stages.
The costs of intraday liquidity
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