Fnality International, delivering a next generation payment system to support peer-to-peer markets and tokenisation, is pleased to announce that it has joined the Enterprise Ethereum Alliance (EEA), the defacto standards organization for enterprise blockchain – one that is backed by the largest developer community in the world and a worldwide member-base.

Fnality International joins @EntEthAlliance https://t.co/LOCQH8yFM6 pic.twitter.com/AfhJwarXDm

— Fnality International (@fnality) January 13, 2020

As a member of the EEA, Fnality International will collaborate with industry leaders in pursuit of Ethereum-based enterprise technology best practices, open standards, and open-source reference architectures. The Fnality Payment System will be an essential enabler for the development of new tokenised assets and the marketplaces that will accompany them.

Adam Clarke, CTO, commented: “Fnality is all about enabling settlement in tomorrow’s financial market infrastructure. Settlement requires all the parties involved to collaborate and cooperate; the EEA’s role is an essential part of that process and we are excited to work with the EEA and the other members to maximise the value of the new technology across the community.”

The EEA membership base represents hundreds of companies from every region of the world across a wide variety of business sectors, including technology, banking, legal, government, healthcare, energy, pharmaceuticals, marketing, and insurance. The EEA’s industry-focused, member-driven Special Interest and Technical Working Groups define market requirements needed to contribute to future versions of the EEA specification, helping to scale the number of market categories the specification supports. The EEA specifications and related materials are available for public download on the EEA website at entethalliance.org.

Fnality was set up by a consortium of financial institutions. The founding shareholders comprise: Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, Credit Suisse, ING, KBC Group, Lloyds Banking Group, Mizuho Bank, MUFG Bank, Nasdaq, Sumitomo Mitsui Banking Corporation, State Street Corporation, and UBS.

Source: Fnality