Fnality, the DLT payments market infrastructure backed by 17 major financial institutions, was due to launch the Sterling Fnality Payment System (FnPS) this month, but the date has been postponed to Q3 2023.
The company says the decision was made in conjunction with the Bank of England “to allow further time to complete relevant regulatory and onboarding work.”
As previously reported, the platform was officially recognized by HM Treasury as a systemically important payment system in August which means the Bank is its regulator.
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