BNP Paribas Joins Fnality Sterling Network

BNP Paribas has become the latest participant on the Sterling Fnality Payment System, joining and then completing an on-chain interest rate swap payment with Lloyds.

Fnality provides a DLT-based wholesale payment system, enabling the use of an asset with the credit characteristics of central bank money, providing the trust and finality required for regulated institutions to scale activity in tokenised financial markets.

The interest rate swap payment on the sterling system demonstrates how DLT can support real-time, risk-free settlement of complex financial instruments using digital representations of central bank money, the firm claims, adding this points to a future where cash, collateral and other assets are enabled to move seamlessly across interoperable platforms. This will thereby improve liquidity management, reduce risk and lay the groundwork for a more integrated and digitally native capital markets infrastructure, it adds.

“BNP Paribas’ participation in this successful interest rate swap payment within the Sterling Fnality Payment System reflects how our DLT-based infrastructure is delivering tangible benefits in wholesale finance,” says Michelle Neal, CEO of 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 realizing a more connected and efficient future for capital markets.”

Hubert de Lambilly, head of global markets Continental Europe, Middle East, and Africa at BNP Paribas, adds, “This transaction underscores our dedication to advancing the use of DLT to strengthen and modernise financial market infrastructure. 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.”

Meanwhile, Rob Hale, head of Financial Markets at Lloyds, says, “Our participation in initiatives such as these reflects our strategic vision to help build more resilient, efficient, and globally connected financial markets. Digital assets have the power to transform core financial services.”