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iSignthis to create transaction platform for the NSXA

Thursday 27 February 2020 13:16 CET | News

Regtech company iSignthis has revealed a deal to develop a delivery versus payment (DvP) system dubbed ClearPay for the National Stock Exchange of Australia (NSXA).

 

As per TheMarketHerald, DvP is a system which guarantees that the transfer of securities only happens after payment has been made. After the company’s initial acquire of a 12.96% share of the NSXA, its inhouse-developed Probanx platform will enter into an agreement with ClearPay valued at USD 4.5 million, to deliver services in approximately 24 months.

ClearPay will offer the DvP platform, integrated payments, and identity verification, as well as it will be a direct competitor to the ASX’s KYC and DLT (distributed ledger technology) services, and the ASX’s wholly owned Clearing and Settlement Facility, Austraclear. Moreoiver, the solution will provide the necessary platform to enable mass scaling and automation of NSXA.

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Keywords: iSignthis, transactions, National Stock Exchange of Australia, DvP, payments, securities, identity verification, KYC, DLT
Categories: Banking & Fintech | Payments General
Countries: Australia
This article is part of category

Banking & Fintech