KUALA LUMPUR, Sept 18 -- Apifiny, a fintech company that is building a new Internet of financial services, has announced ECS Fin will begin a pilot programme to test the integration of Apifiny’s Roxe instant settlement network.
The Roxe network is designed to save financial institutions significant time and costs by using blockchain technology to provide highly reliable, secure, and real-time clearing and cross-border settlement of payments and remittances, traditional assets and digital assets.
“Our partnership with ECS Fin can enable banks to remove barriers of time, geography, and currency so that financial value can move more reliably and much faster at much lower costs anywhere in the world,” said Apifiny Chief Executive Officer, Haohan Xu.
On the heels of The Office of the Comptroller of the Currency’s recent decision to allow banks to offer crypto custody services, the news is another step forward in the integration of traditional finance with decentralised technologies.
Apifiny is focused on connecting centralised financial institutions with decentralised networks to provide simple, fast, and flexible global trading, liquidity, and settlement solutions for trading institutions, digital asset exchanges and banks, according to a statement.
Through the Roxe global instant settlement network’s one-to-many connection, existing and future bank customers of ECS Fin will be able to subscribe to the Roxe network service bureau via ECS Fin’s IMS Platform.
In addition, ECS Fin will test the requirements to become one of the supernodes on Roxe Chain, the blockchain technology powering the Roxe network owned and administered by the Roxe Chain Foundation Limited.
-- BERNAMA
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