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Payment Settlements

Definition

Payment settlements are the final transactions that transfer ownership of funds or assets between parties to finalize a financial agreement. In the cryptocurrency context, this involves the confirmation of transactions on a blockchain, ensuring that the agreed-upon digital assets are irrevocably transferred from the payer’s address to the payee’s address. This process is fundamental to the functioning of any transactional system, providing finality and immutability. It signifies the completion of a financial exchange.