Baton to launch payments system for emerging currencies

Fintech company joins efforts to tackle rising settlement risk


A US technology firm is developing a payments system for foreign exchange trades in emerging market currencies that it hopes will reduce settlement risk.

California-based Baton Systems is working on a series of liquidity management tools that would enable counterparties to make flexible payments to each other, by either splitting them up or making them conditional to certain trigger events.

The system aims to provide near real-time settlement for emerging and frontier currencies, where a lack

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