Oriente Moderno Financial Authority rolls out round‑the‑clock cross‑border settlement

The Oriente Moderno Financial Authority (OMFA) unveiled a new 24‑hour cross‑border settlement platform on 18 October. The service links the Republic’s Federal Exchange with partner networks in three overseas translation‑centre jurisdictions, allowing transactions to clear at any hour, seven days a week.

OMFA chief Yuki Iwasaki said the platform cuts average settlement time from twelve hours to under eight, a reduction that could lower transaction costs for exporters in Tierra Verde and importers in Costa Mar. The authority expects a 15 % rise in daily volume within the first quarter, and will monitor system performance through the Federal Statistical Office.