Partior makes the Finalist List for the G20 TechSprint Challenge for Cross-Border Payments
Blockchain-powered global ledger, Partior, ranks among the top five finalists for the G20 TechSprint Challenge for cross-border payments, in the emerging market and developing economies (EMDE) currencies category.
The G20 TechSprint is a joint initiative between the G20 Presidency and the BIS Innovation Hub to seek out best-in-class technological innovations aimed at common challenges and focal priorities of the global regulatory and central banking community. This year’s edition is focused on three problem statements in cross-border payments – reducing illicit financial risk, enabling settlements in EMDE currencies and multilateral cross-border payment platforms.
Contending with over 90 global participants across three problem statements, Partior’s solution enables FX-settlement in EMDE currencies and addresses pain points that include settlement risks on transactions involving multiple legs, long settlement durations, liquidity constraints, and volatility in FX rates.
Partior’s decentralised atomic FX Payment vs Payment (PvP) solution is a cross-liquidity technology that can be integrated into multilateral platforms, including CBDC platforms. It offers all-in-one, near real-time, 24-7 settlement finality and enables competitive pricing and settlements to be executed in a larger number of currencies, including those from EMDE, on a real-time basis and with reduced liquidity demands.
Benefits unique to Partior’s solution include:
- Precise timing of liquidity operations using Intraday FX Swaps and Just-In-Time liquidity, which reduces liquidity demands and pre-funding requirements.
- Composability that guarantees real-time, global and simultaneous FX settlement to eliminate settlement risk.
- Interoperability with other networks, to enable a unified ledger for liquidity pooling and global real-time settlements utilising EMDE currencies.