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Project IZZI

Building the next-generation global payment infrastructure

Vision: The Project IZZI vision is global adoption of next-generation payment infrastructure that:

        • Delivers safe, efficient, real-time, seamless, 24×7, account-to-account payments domestically, across borders, and across currencies.
        • Leverages the time-tested strengths of international banking while promoting competition among bank and nonbank payment service providers.
        • Meets the G20 call for faster, cheaper, more transparent, and more inclusive cross-border payment services, including remittances.
        • Provides the payment foundation for a unified, global network of interoperable financial ecosystems that can continually expand and innovate.
        • Promotes financial inclusion by creating payment services and connected accounts that can be offered to the unserved and the underserved at low‑to-no cost.

Solution: The Project IZZI solution is patented interbank payment infrastructure with the following core elements and processes:

        • Tokenized central bank money
        • Tokenized commercial bank money
        • Tokenized correspondent banking
        • Real-time single-currency payments, domestically and across borders
        • Real-time cross-currency payments at real-time foreign exchange rates
        • Real-time enforcement of all applicable KYC/AML/CFT requirements

Learn more

White paper: Read the Project IZZI white paper to learn more about Project IZZI and the patented IZZI interbank payment infrastructure.

Presentation: View the Project IZZI presentation to learn more about Project IZZI and the patented IZZI interbank payment infrastructure.

News

January 2025: Read the IZZI, Inc response to the Committee on Payments and Market Infrastructure Cross-border Payments Interoperability and Extension Taskforce consultation on How to improve cross-border payments.

February 2024: Read the IZZI, Inc response to the Committee on Payments and Market Infrastructure Cross-border Payments Interoperability and Extension Taskforce request to create a Compilation of initiatives contributing to the G20 cross-border payments targets.

September 2022: Read the IZZI, Inc response to the Committee on Payments and Market Infrastructure request for comment on Facilitating increased adoption of payment versus payment (PvP).

August 2022: Read the IZZI, Inc response to the U.S. Department of the Treasury request for comment on Ensuring Responsible Development of Digital Assets.

July 2022: Read the BIS-based Committee on Payments and Market Infrastructures Consultative report that compares the Project IZZI solution with other attempts to improve global payments.

Join Project IZZI

Payment system operators and bank and nonbank payment service providers from around the world are invited to join Project IZZI and to participate in the development and testing of the patented IZZI interbank payment infrastructure for potential adoption as the next-generation version of their current systems.

Contact Project IZZI

Requests to join Project IZZI or for further information may be addressed to info@izzi.global.

About IZZI, Inc

IZZI, Inc has been established to achieve the Project IZZI vision by developing and testing a prototype for the patented IZZI interbank payment infrastructure. The prototype will be developed with state-of-the-art technology, utilizing the beneficial elements of distributed ledger technology to maximize security, resilience, and auditability but without dependence on decentralized governance or decentralized operations.

Lawrence M. Sweet is the founder and CEO of IZZI, Inc and the inventor of the patented IZZI interbank payment infrastructure (U.S. Patent No. 11,354,662). Larry established IZZI, Inc and launched Project IZZI after a distinguished 35-year career at the Federal Reserve Bank of New York where he served as Senior Vice President and Senior Payments and Market Infrastructure Policy Advisor.     Read More

Sunil Sabharwal is a founding member of Project IZZI and a partner in IZZI, Inc. Sunil has deep domain experience in the payments industry as a globally respected fintech executive and investor. His public sector experience includes US Alternate Executive Director to the International Monetary Fund (2016-2018) and Principal Banker at the European Bank for Reconstruction and Development (1992-1996).     Read More

 

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