Cross-border payment FinTech RTPS.global has rolled out a 23 currencies on its global network.

The cloud-native SaaS platform, which enables banks and payment companies to connect via a single API, said that instant settlement will now be available for the major currencies on its network, ready for commercial use by banks and payment service providers worldwide.

The move comes as daily payments continue to be exposed to Herstatt risk, where one counterparty may fail to pay the other, and slowdowns due to multi-step operations, the firm said.

The company said that its network aims to eliminate the delays, inefficiencies and risks that have long hampered the global movement of money.

The network operates continuously and bypasses time zone limitations, correspondent chains and traditional business hour restrictions, even in markets historically underserved by global banking infrastructure.

In a statement, Marcus Treacher, executive chairman and chief executive officer of RTGS.global, highlighted these market challenges and how they have hampered cross-border payments for decades.

“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,” he said.

The company recently launched its instant settlement corridor between Tajikistan and Turkey, enabling real-time settlement in local currencies for financial institutions in both markets.

---