Definition ∞ A wholesale payments system refers to a financial infrastructure designed for processing large-value transactions between financial institutions, typically involving central bank money. In the digital asset context, this system could involve institutional digital currencies or tokenized assets used for interbank settlements. Its function is to ensure the efficient, secure, and rapid transfer of significant sums between regulated entities. Such systems are critical for maintaining financial stability.
Context ∞ The current state of wholesale payments systems is undergoing significant modernization, with central banks and private sector entities exploring digital currency solutions. Discussions frequently concern the technological advancements required and the regulatory implications of these new systems. A critical future development involves the widespread implementation of blockchain-based wholesale payment solutions, which could revolutionize global interbank settlements and liquidity management.
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