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Glossary

Key terms used across RTGS.global technical documentation.

Note: Terms marked with (SaaS) apply to RTGS.global's current managed SaaS offering. Terms marked with (Central Bank) describe the intended future closed-network model, subject to regulatory designation and relevant jurisdictional frameworks.

Shared Terms​

Terms that apply across both RTGS.global operating models.

Aries​

The Hyperledger Aries project — an open-source framework for decentralised identity, verifiable credentials, and peer-to-peer messaging. RTGS.global uses Aries-based protocols for participant identity and credential exchange. See the Aries RFCs for protocol specifications.

Aries Askar​

A secure encrypted wallet and key-management component used with Hyperledger Aries implementations. RTGS.global uses Aries Askar to store Ed25519 private signing keys in encrypted wallet storage. Signing and verification are performed through controlled HTTP interfaces, allowing application services to use cryptographic capabilities without directly managing key material or wallet operations.

camt.052​

An ISO 20022 account report message. Used by RTGS.global for balance and transaction-related reporting. See ISO 20022.

camt.054​

An ISO 20022 debit/credit notification message. Used by RTGS.global for settlement confirmation. See ISO 20022.

Corridor​

A currency-pair or market route where the relevant counterparties, liquidity arrangements and operational processes support settlement activity. Each additional participant, Funds Controller, currency and active corridor expands the range of settlement relationships the network can support.

DID (Decentralised Identifier)​

A W3C-standard identifier that is globally unique, cryptographically verifiable, and controlled by the subject rather than a central authority. During organisation onboarding, RTGS.global endorses each participant's DID onto a Hyperledger ledger hosted by Indicio — ensuring that only RTGS.global-recognised participants can interact on the network. Verifiable Credentials are issued as part of the same onboarding process and stored in the participant's private agent wallet.

DID Document​

A machine-readable document associated with a DID (Decentralised Identifier). It contains public verification methods and service endpoints that allow other parties to validate signatures and establish authenticated relationships without relying on a central directory lookup for every interaction.

DIDComm​

A decentralised-identity messaging protocol for encrypted, authenticated communication between identified parties. RTGS.global uses DIDComm for participant notifications and, where required, direct participant-to-participant messaging.

FX Quotes​

A service for communicating and agreeing FX trade terms between participants before settlement. RTGS.global provides an FX Quotes API that allows participants to request, respond to, and confirm indicative FX rates as part of a coordinated payment workflow. See FX Quotes.

HSM (Hardware Security Module)​

A dedicated, tamper-resistant physical device used to store cryptographic keys and perform signing operations. Traditional payment and central-bank infrastructure often relies on HSMs, which can involve significant procurement, certification and key-rotation overhead. RTGS.global uses a wallet-backed signing model with Aries Askar as an alternative, enabling programmatic key rotation without the operational dependency on physical hardware.

ISO 20022​

An internationally recognised financial messaging standard that defines a common structure and vocabulary for payments, reporting, and financial communications. RTGS.global uses ISO 20022 message structures as the basis for external API communication, representing payloads in JSON rather than the standard's native XML format. Key message types in use include pacs.008 (FI to FI Customer Credit Transfer, used by Payaway (SaaS)) and pacs.002 (Payment Status Report).

Jurisdiction​

A geographic and regulatory context within which the RTGS.global platform operates. In the SaaS Offering, each jurisdiction connects to one or more Funds Controller (SaaS) APIs. In the future closed-network model, a jurisdiction would connect to the relevant central bank's API. RTGS.global connects out to these external APIs using those institutions' published integration requirements; they are operated by the respective Funds Controllers or central banks, not hosted by RTGS.global. A Funds Controller or central bank is associated with a specific jurisdiction. Participants select a jurisdiction during onboarding, typically based on geographic or regulatory proximity.

Participant​

An institution (bank, payment service provider, or similar entity) connected to the RTGS.global network. Participants interact with the network via the Participant API and are identified by an RTGS.global ID.

Payment-versus-Payment (PvP)​

A settlement approach that coordinates both legs of a currency exchange so that they complete together or neither settles, reducing principal settlement risk. PvP is the intended settlement mechanism for the future closed-network model.

RTGS.global ID​

The unique identifier assigned to each participant on the RTGS.global network. Format: RTGS:<org-type>:<country-code><8-digit-number> — for example, RTGS:B:GB23410282.

Stablecoin​

A digital asset designed to maintain a stable value relative to a referenced currency or asset. The RTGS.global SaaS Offering supports stablecoin settlement workflows alongside conventional account-based settlement, carrying the relevant crypto wallet identifier through ISO 20022-compatible message extensions or mappings.

Verifiable Credential (VC)​

A W3C-standard digital claim issued by one party about another, cryptographically signed so that any verifier can confirm its authenticity without contacting the issuer. Used in RTGS.global identity flows to attest participant attributes during onboarding and relationship establishment.

RTGS.global SaaS Offering​

A deployment model in which RTGS.global operates as a network and messaging layer, coordinating transaction flows between participants and facilitating settlement with the Funds Controllers without acting as the source of truth. Settlement occurs in commercial bank money or stablecoin; the underlying Funds Controllers and financial institutions remain the record of final settlement. Contrast with Future closed-network model: PvP via Central Bank Funds. Subsequent mentions within a document may use SaaS Offering alone.

Funds Controller (SaaS)​

A licensed financial institution — such as a bank or money transfer operator (MTO) — that holds the authoritative participant account within a jurisdiction. RTGS.global maintains a corresponding Network Account (SaaS) for coordination purposes. Each Funds Controller is identified by a short funds controller code (e.g. fui).

Network Account (SaaS)​

An RTGS.global representation of a participant's account held with a Funds Controller (SaaS). The Funds Controller holds the authoritative record; the Network Account reflects that position within the RTGS.global SaaS Offering for coordination purposes. Participants may hold Network Accounts with more than one Funds Controller.

Payaway (SaaS)​

A cross-border payment service that coordinates FI-to-FI customer credit transfer instructions (ISO 20022 pacs.008) through the RTGS.global network. A participant instructs a payment to a beneficiary, routed via their Funds Controller (SaaS). RTGS.global coordinates the instruction and facilitates settlement with the Funds Controller without acting as the source of truth for final settlement. See FI to FI Customer Credit Transfer.

A service that coordinates linked transaction flows across currencies alongside external settlement arrangements managed by Funds Controllers (SaaS). RTGS.global coordinates instructions but is not the source of truth for final settlement. See Link and Settle.

Future closed-network model: PvP via Central Bank Funds​

The following definitions describe an intended future operating model, subject to regulatory designation and the relevant jurisdictional, account-structure and operating frameworks.

An intended future closed-network operating model in which RTGS.global would operate as settlement infrastructure, subject to regulatory designation and the applicable jurisdictional framework. The intended design uses a tamper-evident Azure SQL Ledger as the authoritative settlement record. RTGS.global would be intended to act as the named account holder with the relevant central bank, subject to the applicable account structure and regulatory arrangements. Settlement would be intended to occur directly in central-bank money through a Payment-versus-Payment mechanism. Contrast with RTGS.global SaaS Offering.

Network Account (Central Bank)​

An intended account representation within a future PvP via Central Bank Funds operating environment. RTGS.global would be intended to act as named account holder with the relevant central bank, subject to the applicable regulatory and account-structure arrangements; the Network Account would reflect each participant's position within the settlement environment. Contrast with Network Account (SaaS).

Payaway (Central Bank)​

An intended FI-to-FI credit-transfer service pattern using ISO 20022 pacs.008 message structures in a future PvP via Central Bank Funds operating environment. Settlement would be intended to occur directly in central-bank money through the PvP mechanism, subject to regulatory designation and the relevant operating framework. See FI to FI Customer Credit Transfer.

An intended service pattern for coordinating linked settlement instructions in a future governed operating environment, with linked instructions intended to settle directly in central-bank funds through the PvP mechanism, subject to the relevant framework. See Link and Settle.