Fnality international, the institutional settlement solution that uses tokenized central bank reserves, has announced its latest feature, the earmarking of funds. We also disclose previously unpublicized details about a £20 million ($27m) convertible loan note issued last year. The company is backed by 20 of the world’s largest global financial institutions.
At an institutional level, if a securities transaction fails because of insufficient funds, that can sometimes trigger penalties, never mind the loss of the transaction. Hence, Fnality now supports earmarking so that an amount of tokenized currency can be earmarked for a particular transaction at a specified time.
The banks involved in developing the programmable functionality were Lloyds Bank, Santander and UBS, the first three banks to go live on the sterling Fnality payment system (£FnPS). The latest feature adds to the 24/7 instant payments previously showcased for margin payments, FX swaps and repo transactions.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
