On the GCUL network, banks and fintech companies using smart contracts can perform several types of transactions designed for financial institutions, including:
- Account Management: Simplified and secure management of commercial bank money accounts on the distributed ledger improves transparency and operational efficiency.
- Instant Cross-Border Payments: Near-instantaneous payment transactions available 24/7 with low, stable fees that comply with regulatory requirements.
- Tokenization of Financial Assets: Issuance, management, and atomic settlement of digital tokens representing assets like bonds, securities, and collateral instruments.
- Wholesale Payments and Fee Settlement: Automated payments related to margin, collateral, settlement, and fees for capital markets operations enabled by programmable smart contracts.
- Payment Automation: Smart contracts written in Python allow enterprises to automate payment processing workflows and reduce manual reconciliation.
- Compliance-Driven Transactions: Transactions on GCUL are permissioned and require KYC verification, ensuring regulated entities operate within compliance frameworks.
- Programmable Asset Transfers: Secure, atomic delivery-versus-payment (DVP) that ensures simultaneous transfer of payment and assets, reducing settlement risk.
- Integration with wallets and existing infrastructure through a single API for ease of use and scalability.
Overall, GCUL facilitates sophisticated financial transactions that enhance liquidity management, risk mitigation, and operational efficiency for banks and fintechs on a neutral blockchain platform.