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Registry

FiatRails Foundation Ltd

The non-commercial Cayman Islands foundation company that governs NETTA — The Settlement Computer — and holds its patent estate. No members, no shareholders, no distributions. This page is the Foundation’s public registry: its purpose, its directors, how it is governed, what it holds, and its notices.

FiatRails Foundation Ltd

Cayman Islands exempted foundation company · Reg. 431901 · LEI 894500RG1F2BKNE8P514

No members, no shareholders. Governs the protocol, holds the patent estate and licenses it to the group. NETTA is a product of the Foundation.

FiatRails Holdings Ltd

Cayman Islands · Reg. 433608 · LEI 894500AC5ANE33H3EX31

The equity and funding vehicle, owned by the Founder ahead of the seed round and the only entity that issues equity. Holds the operating company and takes the protocol under the Master IP Licence, whose terms and termination rights sit with the Foundation’s board.

FiatRails Settlement Ltd

Abu Dhabi Global Market · Reg. 37151 · LEI 894500XN01CZRCRHQH56

The operating and contracting entity for pilots and participation agreements, holding an ADGM commercial licence for technology activities. It does not hold, and does not currently require, a financial-services permission; the protocol’s activity sits outside the licensable perimeter, and the next anticipated step in the UAE is a letter of no objection from the federal central bank.

Digitalyze Labs Ltd

Ras Al Khaimah Digital Assets Oasis, UAE · LEI 894500R7Q3EV3NKRD537

Licensor of the privacy and post-quantum runtime, licensed to the group in perpetuity. A company in which the Founder holds an interest disclosed to the Board.

Purpose and constitution

What the Foundation exists to do

Objects

  • Governance of the settlement protocol and its standards, including supervision of protocol upgrades
  • Custody of the settlement patent estate, licensed to the group’s operating entities under a Master IP Licence; the estate never leaves the Foundation except by licence
  • Self-assessment against the standards applied to financial market infrastructures, ISO 20022 CBPR+ conformance, and documented dialogue with regulators in the jurisdictions where participating institutions operate
  • Oversight of FiatRails Holdings Ltd and the operating entities through reserved matters, written Decision Notices and open registers

Constitution

  • Exempted foundation company limited by guarantee under the Foundation Companies Act 2017 and the Companies Act (as revised), Cayman Islands; incorporated 23 February 2026
  • No members and no shareholders; no distribution of income or property to directors or supervisors
  • The Foundation does not trade, does not contract with customers or end users, does not employ operational staff for commercial activity and does not act as an operating company
  • It is funded by licence income from the operating group under the Master IP Licence, applied to its objects
  • No protocol token exists or is planned; NETTA settles in the currencies and settlement assets its participants already use
Board of Directors

The Founder and three independent non-executive directors

FiatRails Foundation Ltd is governed by a board of four: the Founder and three independent non-executive directors, each with equal standing and no executive chair. Every director and the executive makes an annual conflicts declaration and declares transaction-specific interests; interested directors do not decide the matters in which they are interested. The Board acts as a whole; committees will be constituted as the group scales.

Vincent Scaturchio
Vincent Scaturchio
Executive Director · Appointed February 2026
Founder & Chief Executive

Founder of NETTA. More than twenty years delivering settlement and trading technology into Tier-1 banks.

Full biography

Vincent Scaturchio founded NETTA and is the inventor of its patent estate and the architect of its five-domain settlement stack. Before NETTA he spent more than twenty years delivering settlement and trading technology into Tier-1 banks. He is a director of FiatRails Foundation Ltd, FiatRails Holdings Ltd and FiatRails Settlement Ltd.

Murray Pozmanter
Murray Pozmanter
Independent Non-Executive Director · Appointed June 2026

Former President of Clearing Agency Services and Head of Global Business Operations, DTCC.

Full biography

Murray Pozmanter served as President of Clearing Agency Services and Head of Global Business Operations at The Depository Trust & Clearing Corporation, with responsibility for the clearing and settlement infrastructure at the centre of the US capital markets: DTC, NSCC and FICC, the central securities depository and central counterparties of the US securities market. He joined the Foundation’s board in June 2026.

Steve Bertamini
Steve Bertamini
Independent Non-Executive Director · Appointed July 2026

Former Group Chief Executive Officer, Al Rajhi Bank; former Group Executive Director, Standard Chartered.

Full biography

Steve Bertamini was Group Chief Executive Officer of Al Rajhi Bank and, before that, Group Executive Director at Standard Chartered. He joined the Foundation’s board in July 2026.

Iona Levine
Iona Levine
Independent Non-Executive Director · Appointed September 2026

Led the legal working party that built ECHO, the multilateral FX netting system acquired by CLS in 1997; former Group General Counsel and Managing Director, LCH.Clearnet Group.

Full biography

Iona Levine led the legal working party that built ECHO, the multilateral FX netting system acquired by CLS in 1997, and was Group General Counsel and Managing Director of LCH.Clearnet Group. She joined the Foundation’s board in September 2026.

Iona Levine is a practising barrister and a co-founder of Minerva Chambers. A financial markets specialist, she has decades of experience in helping to create and working with and for financial market infrastructures across a whole range of asset classes and in multiple jurisdictions.

Advisors

Advisory appointments

Hilary Park
Hilary Park
Advisor · Appointed August 2026
Strategic Advisor

Co-founder and former Chief Executive of LMRKTS, the multilateral compression platform for OTC derivatives.

Full biography

Hilary Park co-founded LMRKTS, the multilateral compression platform for OTC derivatives, and later led it as Chief Executive; the business was built, scaled and exited.

Dr Hamed Amini
Dr Hamed Amini
Advisor · Appointed August 2026
Advisor, netting and settlement mathematics

Associate Professor, Industrial and Systems Engineering, University of Florida; research on multilateral netting and financial network compression.

Full biography

Dr Hamed Amini holds the netting and settlement mathematics seat on the Foundation’s Scientific Advisory Board. He is Associate Professor of Industrial and Systems Engineering at the University of Florida and the author of “To Fully Net or Not to Net: Adverse Effects of Partial Multilateral Netting” (Operations Research, 2016) and, in the European Journal of Operational Research (2023), “Optimal Network Compression” and “Decentralized Payment Clearing using Blockchain and Optimal Bidding”.

Executive

Vincent Scaturchio, Founder and Chief Executive, is the group’s executive and a director of each entity. Engineering is delivered by Digitalyze Labs Ltd under an arrangement disclosed to the Board. The operating team is funded by the seed round; senior appointments above the Protocol’s thresholds are reserved to the Board.

Risk and compliance oversight

NETTA is pre-pilot. Risk, security and compliance oversight sits with the Board under the Governance Protocol, with a designated security lead and an escalation path to the executive and the Board; independent second-line and internal-audit functions are established as part of the pilot programme.

How the Foundation is governed

Reserved matters, written notice, open registers

A Board Governance Protocol and Delegated Authority Schedule fixes what the Board decides before anything is executed and how the executive reports on everything else. Related-party matters come to the Board regardless of value; reserved matters are put in writing with notice and silence is never treated as consent; registers of executed instruments and Board decisions are open to every director.

Intellectual property

The settlement patent estate is held by the Foundation under assignments recorded at the United States Patent and Trademark Office and licensed to the operating entities under a Master IP Licence. It never leaves the Foundation except by licence. The cryptographic privacy and post-quantum runtime is licensed to the group by a company in which the Founder holds an interest, disclosed to the Board.

Standards

NETTA is a technology service provider, not a designated financial market infrastructure, and no designation is claimed. The protocol is nonetheless self-assessed against all 24 CPMI-IOSCO Principles for Financial Market Infrastructures and is being extended to the Annex F expectations for critical service providers. No regulator has licensed, approved or endorsed NETTA or any FiatRails entity.

The reserved-matter categories, the intellectual-property position, the standards assessment and the operational resilience and assurance statement are set out in full at netta.network/governance.

Notices

Public notices of the Foundation