Multilateral Settlement Coordination Network多边清算协调网络
The correspondent banking system
traps trillions in idle capital.
代理行体系将数万亿资金锁死在预存账户中。
Anveth reduces the need for dedicated pre-funded Nostro/Vostro balances through real-time multilateral netting and enforceable custodial dispatch arrangements. 安枢通过实时多边净额与可执行托管调度安排，降低专用 Nostro/Vostro 预存资金需求。
01 — ENGINE引擎
10-module verification engine10模块验证引擎
A fully operational Python engine covering netting, threshold logic, default handling, dispatch, sanctions screening, stress control, and RTGS scheduling. All integration tests passing.完整可运行的 Python 引擎，覆盖净额、阈值、违约处理、调度、制裁筛查、压力控制与 RTGS 调度，所有集成测试通过。
How it works →了解机制 →
02 — DEMO演示
Interactive simulator交互模拟器
A browser simulator and desktop app demonstrating multilateral netting across multiple banks and currencies with stress testing and default waterfall simulation.浏览器模拟器与桌面应用，演示多家银行跨多种货币的多边净额运作，含压力测试与违约瀑布仿真。
View demo →查看演示 →
03 — COMPETITIVE竞品对比
Different layer, different problem不同层次，不同问题
Partior, mBridge, Fnality and SWIFT gpi all build new settlement rails. Anveth reduces the volume that needs to travel on those rails. Complementary, not competitive.Partior、mBridge、Fnality 和 SWIFT gpi 都在建新的结算轨道。安枢减少需要走轨道的交易量。互补，不竞争。
See comparison →查看对比 →
04 — RESEARCH研究
Working paper on SSRNSSRN 工作论文
Published March 2026. DOI 10.2139/ssrn.6438004. Indexed in two eJournals. Technical documentation and whitepaper available on request.2026年3月发布，DOI 10.2139/ssrn.6438004，收录于两个 eJournal，白皮书可申请获取。
Read paper →阅读论文 →
Core mechanism核心机制
A fundamentally different approach to correspondent banking.一种根本不同的代理行体系替代方案。
01
Real-time multilateral netting实时多边净额
Traditional correspondent banking settles every payment gross and bilaterally — each transaction moves funds in full between two parties. Anveth aggregates all payment instructions across the member network and continuously computes net positions. The vast majority of gross payment volume cancels out multilaterally, requiring only net balances to actually settle.传统代理行体系逐笔、双边地进行总额结算——每笔交易都在两方之间全额移动资金。安枢汇总成员网络中的所有支付指令，持续计算净头寸。绝大部分总量在多边层面相互抵消，只有净余额才需要真实结算。
CORRESPONDENT BANKING传统代理行
Settlement结算方式Gross, bilateral总额，双边
Pre-funding预存资金Required everywhere所有走廊均需预存
Speed速度1–3 days天
Capital资本要求Idle, locked闲置锁定
ANVETH
Settlement结算方式Net, multilateral净额，多边
Pre-funding预存资金Substantially reduced大幅降低
Speed速度Minutes, 24/7分钟级，全天候
Capital资本要求No centralized pool无中央资金池
02
Threshold-triggered rolling settlement阈值触发滚动清算
Traditional systems settle on fixed schedules — end of day, T+1, or batch cycles. This means capital sits idle between settlement windows regardless of actual risk. Anveth settles dynamically: when a member's net exposure approaches its available capacity, the system triggers settlement automatically. Capital is freed continuously rather than locked until an arbitrary schedule fires.传统系统按固定时间表结算——日终、T+1 或批次周期。这意味着无论实际风险如何，资本在结算窗口之间始终闲置。安枢动态结算：当成员净敞口接近可用额度时，系统自动触发清算。资本持续释放，而不是锁定到某个固定时点。
03
Custodial asset dispatch rights托管资产调度权
Traditional correspondent banking requires banks to pre-fund dedicated bilateral Nostro accounts — capital that sits idle waiting to be used. Anveth eliminates this entirely. Members contribute zero additional capital. Instead, Anveth holds pre-agreed dispatch rights over assets that member banks already hold at qualified custodians. Settlement capacity comes from existing balance sheets, not new capital. In a default scenario, subject to pre-agreed custody control agreements and applicable law, Anveth can instruct qualified custodians directly under predefined default procedures — isolating the failure without systemic contagion.传统代理行体系要求银行为双边 Nostro 账户预存专用资金——这些资本闲置等待使用。安枢完全消除了这一要求。成员零额外资本投入。安枢持有对成员银行在合格托管行现有资产的预先约定调度权。结算容量来自现有资产负债表，而非新增资本。在违约场景下，在预先签署的托管控制协议和适用法律框架下，安枢可按预定义违约程序直接向合格托管行发出指令，隔离失败而不产生系统性传染。
04
Real-time receipt for end users用户端实时到账
Traditional cross-border transfers take 1–3 business days to arrive — passing through opaque chains of correspondent banks, with status invisible to the end recipient. Anveth's netting and threshold architecture compresses the settlement cycle to minutes. For the end recipient, a cross-border payment arrives and is confirmed in near real-time, 24 hours a day, including weekends. The experience mirrors a domestic instant payment, without requiring the sender or receiver to interact with the settlement infrastructure directly.传统跨境转账通常需要1–3个工作日到账，途经不透明的代理行链条，最终收款方无法实时看到状态。安枢的净额与阈值架构将结算周期压缩至分钟级。对最终收款方而言，跨境付款全天24小时、包括周末，几乎实时到账并确认。用户体验接近境内即时支付，无需发款方或收款方直接与结算基础设施交互。
Competitive positioning竞品定位
A different layer in the stack.栈中的另一层。
Most cross-border payment projects build new settlement rails. Anveth operates at the layer underneath — reorganizing how settlement capacity is calculated and allocated, regardless of which rail the underlying funds eventually move on.多数跨境支付项目都在建造新的结算轨道。安枢在轨道之下的层运行——重新组织结算容量如何被计算与分配，无论最终资金通过哪条轨道移动。
JPMorgan · DBS · Temasek
Partior
Blockchain bilateral atomic settlement. Solves speed and transparency.区块链双边原子结算，解决速度和透明度。
Partior moves every payment in full on-chain. It does not reduce the volume that needs to move or the capital that needs to be pre-positioned. Anveth reduces what needs to settle — Partior settles it faster. The two are complementary.Partior 将每笔支付全额上链结算，不减少需要移动的量，也不减少需要预存的资本。安枢减少需要结算的量，Partior 更快地完成结算，两者互补。
BIS · HKMA · BOT · CBUAE · SAMA
mBridge
Multi-CBDC cross-border settlement. Requires sovereign CBDC issuance.多国央行数字货币跨境结算，需要主权 CBDC 发行。
mBridge depends on central banks issuing digital currencies — a sovereign policy decision outside commercial bank control. Anveth uses existing fiat and custodial infrastructure. If mBridge succeeds, Anveth can switch its settlement layer to CBDC rails without changing the netting logic.mBridge 依赖央行发行数字货币，这是超出商业银行控制的主权决策。安枢使用现有法币和托管基础设施。若 mBridge 成功，安枢可将结算层切换至 CBDC 轨道，净额逻辑不变。
Barclays · HSBC · Lloyds · Santander · UBS
Fnality (USC)
Tokenized central bank money. Creates a new settlement asset.代币化央行货币，创造新的结算资产。
Fnality creates a new synthetic settlement asset requiring central bank legal recognition. Anveth creates no new asset — it reorganizes settlement capacity using assets that already exist on bank balance sheets.Fnality 创造需要央行法律认可的新型合成结算资产。安枢不创造新资产，而是利用银行资产负债表上已有的资产重新组织结算容量。
SWIFT
SWIFT gpi
Improved messaging, tracking, transparency. Does not change settlement structure.改进消息传递、追踪和透明度，不改变结算结构。
SWIFT gpi makes the existing system faster and more transparent but does not reduce Nostro pre-funding requirements. The correspondent banking capital burden remains unchanged. Anveth operates at the settlement-capacity layer beneath the message network.SWIFT gpi 让现有系统更快、更透明，但不减少 Nostro 预存资金要求，代理行资本负担不变。安枢在消息网络层之下的结算容量层运行。
ANVETH
Anveth
Multilateral netting coordination. Targets the capital problem, not the rail problem.多边净额协调，针对资本问题，而非轨道问题。
Anveth does not build a new blockchain, issue a new asset, or depend on CBDC policy. It reorganizes how settlement capacity is calculated and allocated — using existing custodial assets, existing RTGS infrastructure, and existing fiat currency. Every other player in this landscape can become a partner or an underlying rail for Anveth.安枢不构建新区块链，不发行新资产，不依赖 CBDC 政策。它重新组织结算容量的计算和分配——使用现有托管资产、现有 RTGS 基础设施和现有法币。这一格局中的其他所有参与方都可以成为安枢的合作伙伴或底层轨道。
Interactive demo交互演示
See the mechanism in motion.看机制如何实际运作。
A browser-based simulator and macOS desktop app demonstrating the full Anveth mechanism across multiple banks and currencies in real time.浏览器模拟器与 macOS 桌面应用，实时演示多家银行跨多种货币的完整安枢机制。
VIEW 01 — NETTING
Real-time net position per member across USD/EUR/SGD. Shows clean capacity, usage %, threshold stage, and self-cure countdown when triggered.每个成员跨 USD/EUR/SGD 的实时净头寸，显示干净额度、使用率、阈值状态及自愈倒计时。
VIEW 02 — FLOW
Inflow/outflow breakdown and corridor asymmetry visualization. Identifies directional imbalances across the network that affect netting compression efficiency.流入/流出明细与走廊不对称可视化，识别影响净额压缩效率的网络方向性失衡。
SIMULATOR
Multi-currency netting多币种净额
Independent netting, thresholds, and capacity per currency. Real-time compression rate display across all active currency pairs.各币种独立净额计算、阈值和额度，实时显示所有活跃货币对的压缩率。
SIMULATOR
Stress testing压力测试
Trigger a market-wide asset shock and observe global stress mode activation, threshold tightening, and System Stability Reserve deployment.触发全市场资产冲击，观察全局压力模式激活、阈值收紧与系统稳定储备金动用。
SIMULATOR
Default waterfall违约瀑布
Full 4-stage default sequence: throttle → suspend → self-cure window → forced custodial dispatch with residual haircut distribution.完整四阶段违约流程：限流 → 停止 → 自愈窗口 → 强制调度，含残余 haircut 分配。
DESKTOP APP
macOS desktop appmacOS 桌面应用
Native macOS desktop application packaging the simulator for offline institutional demonstrations. Run Netting, Shock Assets, and Trigger Default controls available without browser dependency.原生 macOS 桌面应用，打包模拟器供离线机构演示。Run Netting、Shock Assets、Trigger Default 三个控件不依赖浏览器即可使用。
SIMULATOR
RTGS clockRTGS 时钟
Simulated RTGS window tracking with weekend mode, threshold tightening, and Friday pre-close mandatory position zeroing.RTGS 时间窗模拟，含周末模式、阈值收紧与周五强制头寸清零。
SIMULATOR
System Stability Reserve系统稳定储备金
SSR pool accumulates from retained earnings and activates under stress conditions to provide temporary capacity support across the network.储备金从留存利润累积，压力状态下激活，为网络提供临时额度支撑。
Request the simulator package申请模拟器下载包
The simulator and desktop app are available to qualified institutional contacts and researchers. Submit a request and we will respond within 48 hours.模拟器与桌面应用向合格的机构联系人和研究人员开放，提交申请后48小时内回复。
Research研究
Working paper and technical documentation.工作论文与技术文档。
Reducing Correspondent Banking Capital Requirements Through Multilateral Netting with Threshold-Triggered Settlement通过阈值触发结算的多边净额机制减少代理行资本要求
The correspondent banking model remains expensive because banks must keep bilateral Nostro/Vostro balances pre-funded across the corridors they serve. This paper argues that the problem is not primarily a messaging problem — it is a settlement-capacity problem. It proposes a multilateral coordination mechanism built around three linked elements: real-time multilateral netting, threshold-triggered rolling settlement, and legally enforceable dispatch rights over members' existing custodial assets.代理行模式之所以成本高昂，是因为银行必须在其服务的所有走廊中预存双边 Nostro/Vostro 余额。本文认为，这个问题本质上不是消息传递问题，而是结算容量问题。本文提出基于三个关联要素的多边协调机制：实时多边净额、阈值触发滚动结算和对成员现有托管资产的预先约定调度安排。
60–80%
Netting compression under realistic corridor asymmetry真实走廊不对称条件下净额压缩率
$150–400M
Modelled annual capital efficiency gain, 15-bank consortium15家银行联盟预计年度资本节省
1,000×252
Monte Carlo runs × trading days in validation model验证模型蒙特卡洛次数 × 交易日
Roadmap路线图
From working paper to live network.从工作论文到上线网络。
PHASE 0
COMPLETE已完成
Research & mechanism design研究与机制设计
Working paper published on SSRN. Verification engine built and tested. Browser simulator and desktop app completed.工作论文发布于 SSRN，验证引擎构建并测试通过，浏览器模拟器与桌面应用完成。
SSRN paper live — DOI 10.2139/ssrn.6438004
Verification engine — all integration tests passing验证引擎——所有集成测试通过
Browser simulator and macOS desktop app completed浏览器模拟器与 macOS 桌面应用完成
PHASE 1
IN PROGRESS进行中
Institutional engagement & sandbox机构接触与沙盒申请
Building dialogue with correspondent banking desks at regional banks. Academic engagement with leading finance faculty. MAS regulatory sandbox application submitted following an initial discussion with the Innovation Acceleration Office.与区域银行代理行业务部门建立对话，与顶尖金融学院进行学术接触，已与 MAS 创新加速办公室进行初步会议沟通并提交沙盒申请。
MAS initial meeting completedMAS 初步会议已完成
MAS sandbox application submittedMAS 沙盒申请已提交
BIS Innovation Hub Singapore contacted已联系 BIS 创新中心新加坡
Academic engagement — NTU, NUS finance faculty学术接触——南大、新大金融学院
PHASE 2
NEXT下一步
Technology validation & pilot corridor技术验证与走廊试点
Live technology validation under MAS sandbox. Pilot corridor selection. Real transactions with founding member banks. Legal opinions across target jurisdictions on settlement finality and dispatch enforceability.在 MAS 沙盒下进行实时技术验证，选定试点走廊，与创始成员银行运行真实交易，获取目标管辖区关于结算最终性与调度可执行性的法律意见。
PHASE 3
FUTURE未来
Network expansion & FMI designation网络扩展与 FMI 认定
Expand corridors, members, and currency pairs. Apply for formal Financial Market Infrastructure designation.扩展走廊、成员和货币对，申请正式金融市场基础设施认定。
Contact联系我们
Early engagement with institutions and regulators.正与机构及监管机构开展早期接触。
Seeking dialogue with correspondent banking desks, transaction banking teams, payment infrastructure leads, and financial regulators.寻求与代理行业务部门、交易银行团队、支付基础设施负责人及金融监管机构的对话。
DIRECT CONTACT直接联系
EMAIL
contact@anveth.io
LINKEDIN
SSRN
DOI 10.2139/ssrn.6438004
RESPONSE TIME回复时间
Within 48 hours48小时内
ENQUIRIES WELCOME FROM欢迎来自
— Correspondent / Transaction Banking代理行 / 交易银行
— Payment Infrastructure支付基础设施
— Financial Regulators金融监管机构
— Academic Researchers学术研究人员
SEND A MESSAGE发送消息
Frequently asked questions常见问题
What Anveth is — and is not.安枢是什么，不是什么。
Project status项目状态
The mechanism design is complete and documented in a working paper on SSRN. A verification engine and an interactive simulator have been built and tested. An initial discussion with the Monetary Authority of Singapore has taken place, and a sandbox application has been submitted. The project is now in the institutional engagement phase, building dialogue with banks, regulators, and academic researchers ahead of pilot.
机制设计已完成并以工作论文形式发布于 SSRN，验证引擎与交互式模拟器已构建并完成测试，已与新加坡金融管理局进行初步会议沟通并提交沙盒申请。项目当前处于机构接触阶段——与银行、监管机构、学术研究人员建立对话，为试点做准备。
Business & regulatory业务与监管
No. Anveth settles same-currency net positions only. Foreign exchange conversion happens entirely outside the Anveth network — through each member bank's own FX desk or the interbank market — before payment instructions are submitted to Anveth. Anveth never quotes, intermediates, or bears risk on any exchange rate. This is a permanent design decision, not a phased roadmap item. It eliminates FX dealing license requirements, removes political risk of becoming a tariff anchor point, and keeps the system focused on the settlement-capacity problem it is actually solving.
不做。安枢只结算同币种净头寸。外汇兑换在安枢网络之外完成——通过各成员银行自己的外汇业务台或银行间市场，在向安枢提交支付指令之前进行。安枢从不报价、不中介、不承担任何汇率风险。这是永久性的设计决策，不是分阶段路线图。它消除了外汇交易牌照要求，规避了成为关税锚定点的政治风险，并让系统专注于它真正要解决的结算容量问题。
Yes. Anveth has had an initial meeting with the MAS Innovation Acceleration Office (April 2026) and has submitted a MAS regulatory sandbox application. The BIS Innovation Hub Singapore has also been contacted. Anveth is proceeding with sandbox engagement as the primary route to formal regulatory recognition.
是的。安枢已与 MAS 创新加速办公室进行初步会议沟通（2026年4月），并已提交 MAS 监管沙盒申请。BIS 创新中心新加坡也已被联系。安枢正以沙盒接触作为在新加坡获得正式监管认可的主要路径。
No. Anveth does not accept deposits, extend credit, or act as a financial intermediary. It is a coordination and enforcement layer — a network that computes net positions, monitors thresholds, and exercises legally pre-authorized dispatch rights when needed. Member banks retain full control of their own assets, customer relationships, and compliance obligations. Anveth's role is closer to a rules engine with legal teeth than to a bank or a clearinghouse in the traditional sense.
不是。安枢不吸收存款、不发放贷款、不充当金融中介。它是一个协调与执行层——一个计算净头寸、监控阈值、并在必要时行使法律预授权调度权的网络。成员银行完全保留对自身资产、客户关系和合规义务的控制。安枢的角色更接近于一个有法律约束力的规则引擎，而非传统意义上的银行或清算所。
No. Anveth never holds, controls, or pools member assets. All assets remain with independent custodian banks under tri-party agreements. What Anveth holds is a legally enforceable dispatch right — the ability to instruct custodians to act under predefined conditions and pre-agreed custody control agreements. This structure avoids the single-point-of-failure and "central pool contamination" risks that a traditional central counterparty model would carry.
不持有。安枢从不持有、控制或汇聚成员资产。所有资产通过三方协议保留在独立托管行。安枢持有的是预先约定的调度权——在预定条件和托管控制协议框架下指令托管行行动的权利。这种结构避免了传统中央对手方模式所具有的单点故障和"中央池污染"风险。
No. Anveth's core mechanism — multilateral netting, threshold logic, custodial dispatch — does not depend on blockchain. The design intentionally keeps blockchain as an optional evidence and audit layer, to be activated when the industry's acceptance of distributed ledger in financial infrastructure matures. The netting and risk logic runs on deterministic rule engines, not smart contracts. This means Anveth can operate today without waiting for regulatory clarity on tokenized assets or CBDC.
不是。安枢的核心机制——多边净额、阈值逻辑、托管调度——不依赖区块链。设计上有意将区块链保留为可选的证据和审计层，待行业对金融基础设施中分布式账本的接受度成熟后再激活。净额和风控逻辑运行于确定性规则引擎，而非智能合约。这意味着安枢今天就可以运行，无需等待代币化资产或 CBDC 的监管明确。
Anveth uses a four-stage default sequence: warning and throttling, suspension of new transactions, a timed self-cure window, and finally forced custodial dispatch if the member fails to settle. In dispatch, Anveth instructs the custodian to liquidate or transfer the pledged assets and distribute proceeds pro-rata to net creditor members. If assets are insufficient, residual losses are absorbed only by the specific net creditors of that member — not by uninvolved members. There is no mutualized default fund. A single member's failure, even a large one, does not contaminate the broader network.
安枢采用四阶段违约处理流程：预警与限流、停止新交易、限时自愈窗口，以及在成员未能完成结算时的强制托管调度。调度时，安枢指令托管行变现或转让质押资产，并按比例分配给净债权方。若资产不足，残余损失仅由该成员的具体净债权方承担，与其他成员无关。没有共同违约基金。单个成员的失败，即便是大型成员，也不会污染整个网络。
Anveth is designed for licensed commercial banks and financial institutions that participate in cross-border payment flows. Membership requires maintaining qualifying unencumbered custodial assets, meeting AML/KYC standards, and accepting the Anveth network rulebook. The pilot phase is intended to begin with a small set of founding institutions engaged through the sandbox process.
安枢面向参与跨境支付流的持牌商业银行和金融机构。成员资格要求持有合格的干净托管资产、满足 AML/KYC 标准，并接受安枢网络规则手册。试点阶段计划与沙盒流程内的少数创始机构启动。
No. Anveth operates at a different layer. SWIFT is a messaging network. Partior and mBridge are settlement rail projects. Anveth reduces the volume that needs to travel on any rail — whether SWIFT, Partior, CBDC, or RTGS. Think of it this way: they are building new roads. Anveth reduces the number of cars that need to be on the road. These are complementary problems. If Partior or mBridge succeeds, Anveth's underlying settlement layer can integrate with those rails without changing its netting logic.
不竞争。安枢在不同层次运行。SWIFT 是消息网络，Partior 和 mBridge 是结算轨道项目。安枢减少需要通过任何轨道传输的交易量——无论是 SWIFT、Partior、CBDC 还是 RTGS。可以这样理解：它们在修新的路，安枢减少需要上路的车。这些是互补的问题。如果 Partior 或 mBridge 成功，安枢的底层结算层可以与这些轨道整合，而无需改变净额逻辑。