{
Angus Fletcher

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Fnality faces leadership change and challenges in global digital currency landscape

Rhomaios Ram, CEO of Fnality, plans to step down as the company seeks a replacement. Fnality, backed by 20 global institutions, including UBS and Goldman Sachs, operates a tokenized payment system designed for interbank transactions, with plans to expand to multiple currencies. Despite recent funding rounds, the company faces challenges, including potential competition from central bank digital currencies in both the UK and EU.
Ledger Insights - blockchain for enterprise
British Pound Sterling Euro United States Dollar DTCC Banco Santander, S.A. The Goldman Sachs Group, Inc. UBS BNY State Street Corporation BNP Paribas SA USA GBR Howard Lutnick Angus Fletcher Donald Trump Show more
Crypto, Market Report
13:32 22.11.2024

banks complete first uncleared margin transfers using digital central bank funds

Banco Santander, Lloyds Banking Group, and UBS have successfully executed the first uncleared bilateral margin payments using a digital representation of central bank funds on the Sterling Fnality Payment System (£FnPS). This milestone demonstrates the potential of a regulated Distributed Ledger Technology (DLT)-based payment system for settling margin in inter-bank derivative transactions, paving the way for future automation and efficiency in margining processes. Fnality aims to expand its network of payment systems globally, with plans for US expansion in 2025, subject to regulatory approval.
FF News | Fintech Finance
British Pound Sterling Banco Santander, S.A. Lloyds Banking Group plc UBS AG John Whelan Peter Left Edward Budd Hyder Jaffrey Angus Fletcher Show more
Crypto, Press Release
11:08 30.10.2024
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