BNP Paribas Joins Sterling Fnality Payment System – A Bold Leap into Blockchain-Powered Settlements

Breaking the mold of legacy finance, BNP Paribas just plugged into the Fnality payment rail—proving even dinosaurs can learn to code.

Why it matters: When a €2T asset behemoth dabbles in blockchain settlements, the 'experimental phase' is officially over. Fnality's sterling system cuts settlement times from days to seconds—no more waiting for the SWIFT cavalry.

The fine print: This isn't DeFi summer 2.0. Fnality operates with full Bank of England oversight, because nothing says 'innovation' like a central bank rubber stamp. Still, watch how fast rivals scramble to join once they see BNP's treasury saving millions on failed trades.

Bottom line: The institutional crypto dam is leaking. Next stop? Floodgates. (And yes, Goldman will claim they invented this in 3...2...1...)

BNP Paribas has become the newest participant in the Sterling Fnality Payment System (£FnPS), marking an expansion of the £FnPS participant network. This milestone was immediately followed by the successful completion of an on-chain interest rate swap payment between BNP Paribas and Lloyds on the £FnPS.

Fnality delivers a central bank-regulated 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 tokenized financial markets.

The interest rate swap payment on the £FnPS demonstrates how DLT can support real-time, risk-free settlement of complex financial instruments using digital representations of central bank money. Beyond operational efficiency, this capability points to a future where cash, collateral and other assets are enabled to MOVE seamlessly across interoperable platforms, thereby improving liquidity management, reducing risk and laying the groundwork for a more integrated and digitally native capital markets infrastructure.

BNP Paribas’ participation underscores the growing sophistication of the £FnPS, as well as the trust placed in it by top tier banks in a regulated financial landscape, demonstrating its capability for real-time, secure settlement using a digital representation of funds held at the central bank.

 “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. 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.”

 “We are pleased to collaborate with Fnality and complete our first Interest Rate Swap payment on the Sterling Fnality Payment System. “This transaction underscores our dedication to advancing the use of DLT to strengthen and modernize 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.”

 “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, and we are proud to work with Fnality, bringing together industry-leading expertise to integrate tokenisation and distributed ledger technology into the heart of market infrastructure.”

Source: Fnality