HM Treasury has designated Sterling Fnality Payment System as a regulated payment system from 31 August 2022. Accordingly, PSR has confirmed that Sterling Fnality Payment System will be subject to PSR regulation from 31 August 2022.
Sterling Fnality Payment is a payment system which uses Distributed Ledger Technology to transfer funds between its participants. It is primarily focussed on wholesale and high value payments, backed by central bank funds.