Cross-border payments network RTGS.global has added 23 currencies to its platform, enabling instantaneous settlement between participating financial institutions vis a single API connection.
An estimated $3tn to $5tn of daily payments continue to be exposed to Herstatt Risk, where one counterparty may fail to pay the other, creating delays, inefficiencies, and risks that have long hindered global money movement.
Seeking to overcome the challenges, the RTGS.global network acts as a messaging and orchestration layer, operating continuously and bypassing time zone cut-offs, correspondent chains and traditional business hour restrictions even in markets historically underserved by global banking infrastructure.
The latest expansion follows from a strategic collaboration with embedded B2B payments infrastructure as a service TranferMate. TransferMate enables institutions participating in RTGS.global to access a wide selection of major currencies and local domestic rails via a single integration with the RTGS.global API.
“Imagine the global flow of money as a vast network of highways,” says Marcus Treacher, executive chairman and CEO of RTGS.global. “For decades, much of the world’s cross-border payments have been stuck in traffic - delayed, circuitous, and risky. We’ve now built the motorway, complete with all the major intersections and rules, so any bank or payment company can move money quickly, safely, and reliably. This is proven in real-world use, ready for scale and brings a collective uplift for all players.”