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Baton Systems and Osttra’s joint payment-versus-payment FX network adds central bank-backed settlement option
Baton Systems and post-trade technology vendor Osttra have struck a partnership with Fnality to integrate its blockchain-based payments system to its payment-versus-payment (PvP) foreign exchange settlement platform.
After completing the proof-of-concept, Baton users will be able to use the Fnality Payment System (FnPS) – which keeps a digital record of reserves held at the central bank – for real-time payment of FX transactions around the clock, giving them additional ways to settle trades on
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