Accenture, SAP and R3 are collaborating and co-innovating to build a real-time gross settlement system that will enable faster, more efficient, reliable and secure payments between banks and customers.
With real-time gross settlement (RTGS) systems, electronic funds transfers between banks occur in real time and settle on a one-to-one basis. This process is often used for high-value transactions that require immediate clearing and are typically handled by central banks.
The payment platform plans to allow for integration and interoperability between distributed ledger technology (DLT) -based and classic government-issued payments and settlements. The co-innovated prototype design uses currency tokens to facilitate end-to-end settlement.
Currency tokens are used in preference to digital currencies in this design because they ..
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