Today (London, 19 April 2021), the Chancellor of the Exchequer made an announcement as part of UK FinTech Week 2021, welcoming the Bank of England’s new omnibus account model, devised to allow new and innovative financial market infrastructures to access central bank settlement money.
Her Majesty’s Treasury and the Bank of England also issued a press release on the publication of this policy. Fnality International, a private sector initiative supported by 15 major financial institutions, is delighted to announce that it has already made an application and notes this major milestone on its journey to launch a network of innovative DLT based Fnality Payment Systems, together comprising Fnality Global Payments.
Adhara is proud to be Fnality’s blockchain partner enabling this fundamental market innovation and would like to congratulate Fnality bringing to fruition years of hard work. Once again this demonstrates the wholesale CBDC space is the most mature and going to lead the way into production.
This milestone now opens the opportunity for new market services combining Liquidity Management, FX and International Payments like Adhara’s FX Liquidity Exchange T.0 and Interbank Payments T.0.
Adhara’s market leading software solutions and broad experience working with Commercial Banks, Central Banks and Exchanges on Liquidity Mgt, FX and Payments also creates the opportunity for Commercial banks to use LiquidityHub T.0, PayHub T.0 or Treasury T.0 for Corporates to use the same underlying omnibus model to generate benefits within their own banking groups.