In May 2017, the Bank of England announced its vision for a renewed Real Time Gross Settlement (RTGS) service to deliver a materially stronger, more resilient, flexible and innovative sterling settlement system to respond to the rapidly changing payments landscape.
Clearmatics is pleased to be amongst the companies chosen to work with the Bank on a proof of concept (PoC) to explore how a renewed RTGS service could be capable of supporting settlement on innovative payment technologies. To date, Clearmatics has been involved in testing the RTGS capability to support settlement on Distributed Ledger Technology, as well as identifying areas for improvement.
The Bank expects to publish a summary of findings from the PoC later in 2018.
Read full press release from the Bank of England: https://www.bankofengland.co.uk/news/2018/march/rtgs-renewal-proof-of-concept
PDF Version of the Press Release: https://www.bankofengland.co.uk/-/media/boe/files/payments/rtgs-renewal-proof-of-concept.pdf