Tokenovate is one of 18 firms taking part in the Bank of England’s Synchronisation Lab, a project looking at how synchronised payments via the central bank’s Real-Time Gross Settlement (RTGS) system could affect the future of wholesale market infrastructure, states Tokenovate in a press release.
According to Tokenovate, its contribution to the lab centres on tokenised settlement, derivatives workflows, collateral management and multilateral financial orchestration. Within the project, participants are examining whether synchronised payments through RTGS could support more automated and secure execution of complex financial products, including derivatives and collateral processes.
The lab is also exploring how standardised payment and settlement instructions, programmable lifecycle events and conditional asset transfers might be coordinated within existing market infrastructure. Insights from this work are intended by the Bank of England to help inform future design choices around a possible synchronisation capability.
Novat
Tokenovate connects its involvement in the lab to the recent launch of its programmable settlement protocol, Novat, which it describes as supporting instant and legally final settlement for tokenised assets. As markets move toward T+1 settlement, the firm says liquidity remains tied up in fragmented post-trade systems, and that synchronising cash and asset movements could enable greater automation and legal finality.
