News partners with MDO Humo and Credo Bank

Friday 7 July 2023 15:08 CET | News

Financial Market Infrastructure (FMI) for cross-border settlements has partnered with MDO Humo and Credo Bank to simplify cross-border payments.


As per the press release, the company has signed landmark pilot agreements with the banks as momentum builds in emerging markets for its settlement service. – Humo, Credo Bank collaboration details

MDO Humo in Tajikistan and Credo Bank in Georgia are the progressive institutions set to run pilots with, showcasing a commitment to bettering cross-border payments and settlements in the regions, By leveraging’s network, the companies are to realise significant liquidity benefits and simplify cross-border settlement processes that have traditionally been cumbersome.

Throughout the rapid-developing markets across Central Asia, together with wider Asia, Middle East, and Africa regions,’s solution is reported as having generated considerable interest. The announcement details that the FMI has gained the attention of the industry’s multinational banks, which formed a global Banks Working Group with the enterprise to advance cross-border payments and to better the global banking ecosystem. Announced in May 2023, the Banks Working Group currently comprises over a dozen banks from across the Americas, EMEA, and APAC regions.

Marcus Treacher, Executive Chair at advised that the partnerships showcase a demand for innovative solutions that address the historic and emerging challenges associated with payments and liquidity management. Per their statement, what is visible in countries like Georgia and Tajikistan comes as a recognition that they can offer improved experiences to customers by providing simplified services based on frictionless cross-border payments and settlements. partners with MDO Humo and Credo Bank

What is more, CEO Jarrad Hubble added that 2023 marks a ‘pivotal year’ for the business, as it looks to achieve its next phase of growth. The spokesperson believes the company’s ability to serve established and emerging markets alike showcases a ‘genuine commitment’ to fixing issues throughout the global financial system.

As it continues its expansion into additional regions and engagement with central banks and commercial banks, has made several strategic new hires and is on course for further expansion in 2023., Humo, and Credo Bank offering and mission

A next-generation settlement service, delivers real-time cross-border payments and liquidity management. The service seeks to reimagine how settlement takes place in the interbank foreign exchange market, enabling counterparties to settle trades in an instant manner, bilaterally, and free of settlement risk, 24/7/365. Currently, settlement service provides fiat currency settlement and is designed for a future that includes CBDCs, alongside other digital asset classes.

Humo is a progressive micro-credit deposit organisation with a focus on offering qualitative, affordable financial services to the rural population, and on promoting the development of SMBs in financially underserved areas of Tajikistan.

A commercial bank in Georgia, Credo Bank offers fully-fledged banking services to more than 460,000 customers, with a mission to support the country’s entrepreneurs and their employees in creating a better future by providing affordable financial services.

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Keywords: partnership, financial services, banks, settlement, instant settlement, cross-border payments, liquidity, fintech, banking, digitalisation, digital banking, financial inclusion, payments , B2B payments, FX
Categories: Banking & Fintech
Companies: Credo Bank, Humo,
Countries: Georgia, Tajikistan
This article is part of category

Banking & Fintech

Credo Bank




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