Euroclear and Fnality will create a tokenized payment system

Belgian clearing house Euroclear has acquired a stake in the Fnality consortium, which is developing a payment system based on distributed ledger technology.

Euroclear has joined the Fnality consortium, which will allow fast and efficient settlement of tokenized assets. The company will also be able to use digital securities in exchange for digital money from central banks.

Euroclear offers settlements for stock and bond transactions. In this case, the money is exchanged for legal ownership. Euroclear settled around €992 trillion in securities in 2021.