Blockchain company Fnality is developing a new payment system for wholesale banking

On October 18th, Rhomaios Ram, CEO of blockchain company Fnality, said the company is developing a new payment system for (wholesale banking). Wholesale banking refers to borrowing between banks or with large customers. Scallions have previously reported that Fnality is the operating entity of the Utilities Settlement Token (USC) project, which in May includes Barclays, Credit Suisse, UBS and NASDA. More than a dozen founding shareholders, including Nasdaq, were formed after a round of £50 million in financing.