On January 9, 2017, the European Central Bank (ECB) launched a market consultation on the TARGET Instant Payments Settlement (TIPS). According to the ECB, TIPS seeks to “offer instant settlement services in euro to its participants when an originator instructs transfer of funds to a beneficiary; however, the technical implementation of TIPS shall be currency agnostic in order to provide flexibility in the design”.
The main objectives of the project are as follows:
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