Ahead of its launch in October, Fnality, the blockchain payment system owned by 15 financial institutions, executed a trial payment to settle a security issuance. Natwest acted as dealer and issuer for the pilot transaction, and Santander invested in the digital asset.
This proof of concept involved two separate blockchain networks, the Fnality Ecosystem Testnet for payments and the public Ethereum blockchain on which the digital security was issued. Both networks are Ethereum based.
The debt was issued using Nivaura’s automated workflow solution. Adhara, which has worked with Fnality since early 2020, helped develop the Fnality Ecosystem TestNet.
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