Cross-Border Settlement on PYRAX
Cross-border settlement moves value between institutions and currencies, still routed through slow, expensive correspondent-banking chains and nostro/vostro pre-funding. PYRAX replaces the chain with a single, instantly-final rail where shielded, atomic FX settlement completes in one block and viewing keys give central banks and regulators auditable oversight.
The market
Source: McKinsey Global Payments / FXC Intelligence, 2024. Figures are indicative and provided for context.
What's broken today
How PYRAX transforms it
Concrete network elements mapped to this business.
BLS proof-of-stake finality
Payment-versus-payment FX legs settle atomically and irreversibly in one block, eliminating Herstatt settlement risk and the multi-day correspondent chain.
On-chain escrow
Both currency legs are escrowed and released simultaneously, so neither counterparty is ever exposed to a half-settled trade.
Shielded-by-default ZK transfers
Institutional flows and counterparties stay confidential, while central banks and supervisors use viewing keys for real-time, read-only oversight of settlement.
GhostDAG (500k-TPS target)
Parallel throughput sustains RTGS-grade wholesale settlement volume, letting many institutions clear concurrently without a throughput ceiling.
Sphinx mixnet metadata privacy
Network-layer mixing hides which institutions are transacting and when, preventing competitors and observers from inferring positions from settlement traffic.
Buildathon: dApp ideas
Ship-ready concepts for cross-border settlement on PYRAX.
AtomicPvP
01Payment-versus-payment FX settlement that atomically swaps two currency legs with BLS finality.
NostroFree
02On-demand liquidity dApp that eliminates pre-funded nostro accounts through instant settlement.
CBDCBridge
03Interoperability bridge that settles between tokenized central-bank currencies with viewing-key oversight.
WholesaleRail
04RTGS-grade wholesale settlement network for banks, clearing concurrently at high throughput.
FXPool
05On-chain FX liquidity pool with staked market-maker capital and transparent, atomic swaps.
SupervisorKey
06Central-bank oversight portal reading settlement flows through scoped viewing keys, not raw exposure.
CorridorPrivacy
07Metadata-private institutional corridor routing settlements through the Sphinx mixnet.
NettingEngine
08Multilateral netting contract that computes and settles net positions across many banks in one batch.