According to Odaily, Singapore-based project Partior has successfully completed the concept verification for Payment versus Payment (PvP) settlement. The participants in this project included major financial institutions such as JP Morgan, DBS Bank, and Mizuho Bank. The PvP settlement method, which involves the simultaneous exchange of two currencies, effectively eliminates settlement risk. Partior's solution supports 24/7 real-time atomic settlement and is planned to be launched later this year.
The concept of PvP settlement is a significant step forward in the financial industry. By simultaneously exchanging two currencies, it eliminates the risk of one party defaulting on their obligations. This is particularly beneficial in the forex market, where large sums of money are often exchanged between parties.
Partior's solution, which supports 24/7 real-time atomic settlement, is set to revolutionize the industry. This means that transactions can be settled instantly, at any time of the day or night, greatly increasing efficiency and reducing the risk of delays. The launch of this solution, planned for later this year, is eagerly anticipated by many in the financial sector.