Partior’s digital cash settlement network has successfully integrated with Osttra and Baton Systems’ on-demand foreign exchange (FX) payment-versus-payment (PvP) settlement service.
The PvP network utilizes Baton’s distributed ledger technology (DLT), which has facilitated over $13 trillion in FX settlements to date. This collaboration with the bank-backed fintech firm Partior aims to enhance the options for participants in settling FX transactions while ensuring PvP protection through the use of tokenized commercial bank facilities.
Participants will continue to benefit from existing automated matching, netting, and settlement orchestration processes that provide programmable atomic PvP. Moreover, they now have the flexibility to settle FX transactions using either fiat or tokenized commercial bank money, or assets characterized by credit qualities akin to central bank money.
Humphrey Valenbreder, CEO of Partior, remarked, “As the sector progresses from experimentation to real-world application of digital assets, the ability to efficiently settle FX trades using tokenized commercial bank money marks a significant advancement.”
Arjun Jayaram, CEO of Baton Systems, added, “The shift from fiat to digital assets is paving the way for banks to utilize multiple settlement venues, optimizing liquidity and ensuring secure settlements. With the integration of Partior into our institutional-grade DLT, we offer network participants enhanced options for account structures to facilitate settlement across a growing diversity of assets.”