Major core banking software provider FIS has launched Lyriq, a new platform to enable banks to issue and manage tokenized deposits and digital currencies such as stablecoins, while keeping those assets on the issuing bank’s balance sheet. Lyriq integrates with core banking systems, not just those that use FIS technology. Key advantages of the system include 24/7 transaction settlement and a reduction in reconciliation requirements.
The platform has been tested through seven proof of concepts with financial institutions globally. The initial focus is domestic tokenized deposits, the digital euro and integration with CBDC systems in EMEA and APAC, where FIS has supported multiple CBDC programs including one advancing to pre-production.
Jim Johnson, Co-President of Banking Solutions at FIS said that Lyriq “puts banks in control of money in motion. Lyriq is a platform proven with financial institutions – one that meets banks and regulators where they are.”
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