10 hours ago
Osttra, Baton and Partior expand FX settlement ecosystem with tokenised commercial bank funds
Partior's digital cash settlement network has connected to Osttra and Baton Systems' on-demand FX payment-versus-payment (PvP) settlement service.
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The PvP network is powered by Baton's DLT technology, which has facilitated over $13 trillion in FX settlements to date.
The integration of bank-backed fintech Partior is designed to expand participants' options for settling FX transactions with PvP protection to include using tokenised commercial bank facilities.
Participants can continue to tap the existing automated matching, netting and settlement orchestration which delivers programmable atomic PvP but can now elect to settle FX transactions using either fiat or tokenised commercial bank money or an asset with the credit characteristics of central bank money.
Humphrey Valenbreder, CEO, Partior, says: 'As the industry moves beyond experimentation toward real-world adoption of digital assets, the ability to settle FX trades with tokenised commercial bank money efficiently is a great step forward.
Arjun Jayaram, CEO, Baton Systems, adds: 'The transition from fiat to digital assets is ushering in an era where banks can leverage multiple settlement venues to optimise liquidity and ensure safe settlement.
"With Partior now integrated with our institutional-grade DLT, we provide network participants with even greater choice in the account structures they can use to orchestrate settlement across venues for an increasingly diverse range of assets.'
