# #19: Modernizing Payments Settlement Engines

[Payment Systems Broadcast](/content/all-fna-broadcasts/category/Payment+Systems+Broadcast/index.html)

26 Jan

Written By [Saiesha Pitroda](/content/all-fna-broadcasts?author=6825c3024b109a092cd591c8/index.html)

**30th January 2025**  
**With:**  
|  Baltazar Rodríguez (BIS Innovation Hub)  
| Animesh Ghosh (Currency Network)

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In Session #19, **Baltazar Rodríguez** (BIS Innovation Hub) and **Animesh Ghosh** (Currency Network) join FNA to pull back the curtain on **Project FuSSE** (Fully Scalable Settlement Engine). Historically, payment systems have been built as "black boxes"—hard to update and even harder to scale. FuSSE, a collaboration between the BIS and the Inter-American Development Bank (IDB), breaks this mold by testing a prototype that achieves **10,000 transactions per second (TPS)** using a modular microservices architecture.

The project isn't just about speed; it is about **future-proofing**. Our guests discuss how FuSSE integrates **quantum-resistant cryptography** to protect against tomorrow's cyber threats and utilizes **Liquidity Saving Mechanisms (LSMs)** to ensure efficiency. By making these settlement "blocks" open-source and adaptable, FuSSE provides a blueprint for central banks—particularly in Latin America and the Caribbean—to build modern, inclusive, and resilient financial backbones.

**This session covered:**  
- **The Microservices Shift:** Moving from monolithic "all-in-one" systems to a modular design where services like signing, validation, and ledger entries scale independently.
- **Quantum Readiness:** How Project FuSSE adopts "crypto-agility," allowing central banks to plug in new quantum-resistant algorithms as global standards evolve.
- **Scalability at Scale:** Analyzing the 10,000 TPS benchmark and the project's ability to handle massive transaction volumes with minimal resource overhead.
- **Liquidity Efficiency:** The role of the FuSSE engine in orchestrating complex liquidity-saving mechanisms to reduce the intraday capital requirements for banks.
- **The IDB Partnership:** Why modular infrastructure is the "missing link" for financial inclusion in regions where high-cost legacy tech has historically been a barrier.
- **Private-Sector Synergy:** How companies like Currency Network are collaborating with global bodies to deliver open-source public goods for the central banking community.

**Watch on Demand:**

Listen on: [Spotify](https://open.spotify.com/episode/1m5OB0O71NU8v6I6IJ9XIY?si=d57be237b4f24d8d) | [Amazon Music](https://music.amazon.co.uk/podcasts/93293cc8-fa9c-41a8-a3d7-86b413d78941/episodes/b9d940c6-bf60-4487-8e25-543d9327fc87/fna-broadcasts-payment-systems-broadcast-19---modernizing-payments-settlement-engines) | [Apple Podcasts](https://podcasts.apple.com/gb/podcast/payment-systems-broadcast-19-modernizing-payments-settlement/id1772649634?i=1000688544224)

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### Missed our previous sessions?  
You can catch up with The Payment Systems Broadcast on-demand. [View all episodes >](/content/insights?category=Payment%20Systems%20Broadcast/index.html)  
Or listen wherever you get your podcasts: [Spotify](https://open.spotify.com/episode/0wTNGVQvQMVWlCKqzXu5xx?si=b9d4fce15716478a) | [Apple](https://podcasts.apple.com/gb/podcast/payment-systems-broadcast-23-project-meridian-fx-cyber/id1772649634?i=1000725546180) | [Amazon Music](https://music.amazon.co.uk/podcasts/93293cc8-fa9c-41a8-a3d7-86b413d78941/episodes/f5c4b50e-b5a7-4104-b9a2-988a586fa42f/fna-broadcasts-payment-systems-broadcast-23---project-meridian-fx-cyber-resilience-insights-from-stress-testing)