BNP Paribas has become the latest participant in the Sterling Fnality Payment System (£FnPS), marking a significant step in the adoption of blockchain-based financial infrastructure.
The bank’s entry was followed by the successful execution of an on-chain interest rate swap payment with Lloyds Banking Group on the £FnPS platform.
“This transaction underscores our dedication to advancing the use of distributed ledger technology (DLT) to strengthen and modernise financial market infrastructure,” said Hubert de Lambilly, head of global markets continental Europe, Middle East, and Africa at BNP Paribas
“With the rapid shift toward digital systems, we believe platforms such as Fnality will be instrumental in building interconnected, global networks that support real-time settlement and more intelligent, cross-border liquidity solutions.”
£FnPS is the first fully regulated, DLT- based payment system. It enables the movement of tokenised funds backed by central bank money, using balances held at the Bank of England.
The system is designed to enhance efficiency, speed, and security in interbank transactions.
“BNP Paribas’ participation in this successful interest rate swap payment within the £FnPS reflects how our DLT-based infrastructure is delivering tangible benefits in wholesale finance,” said Michelle Neal, CEO at Fnality.
“These milestones are not just operational achievements; they represent progress toward a global financial system where funds move seamlessly, securely and in real time. Fnality’s collaboration with BNP Paribas is another meaningful step toward realising a more connected and efficient future for capital markets.”
Fnality said this move signals a future where cash, collateral, and assets can move seamlessly across platforms, boosting liquidity, cutting risk and paving the way for a more integrated, digital capital markets infrastructure.
