NatWest, Deutsche Bank, Bank of Ireland, Banca Mediolanum and seven other banks participated with USD 14.5 trillion in combined balance sheet values. The solution is planning live trades in late 2021 or early 2022.
What Finteum wants to introduce is a tool to manage intraday liquidity beyond buffers and payment throttling. Both legs of the swap, the initial spot exchange and the second reverse exchange, happen on the same day. And instead of two-day settlement, it’s either same day or instant payment versus payment settlement, depending on the solution used for settlement.
The Finteum solution is based on R3’s Corda enterprise blockchain. So far, Finteum has raised angel funding with a view to doing a more substantial fundraise closer to launch.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.