Fnality, a new European banking consortium, has tested its solution with NatWest and Santander.
In Brief:
Fnality aims to use distributed ledger technology (DLT) for settlements in capital markets and payments.
Santander and NatWest successfully conducted a proof of concept.
The test was supported by FinTechs Nivaura and Ahara.
What does this mean?
This marked the first “cross-chain” pilot debt transaction on public Ethereum using Fnality’s payment system. The Fnality consortium includes a huge number of European banks, including Banco Santander, Barclays, Lloyds and more.
