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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.
11:08 30.10.2024

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