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.
MDO Humo in Tajikistan and Credo Bank in Georgia are the progressive institutions set to run pilots with RTGS.global, showcasing a commitment to bettering cross-border payments and settlements in the regions, By leveraging RTGS.global’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, RTGS.global’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 RTGS.global 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.
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.
A next-generation settlement service, RTGS.global 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, RTGS.global 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.
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