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Northern Trust Advances Tokenized Finance Innovation in Australia through Project Acacia

The experiment will demonstrate potential for integration between digital assets and traditional financial infrastructure.

SYDNEY–(BUSINESS WIRE)–
Northern Trust (Nasdaq: NTRS) announced a collaboration with Swift to explore how tokenized assets such as carbon credits can be transacted using a commercial bank account in Australia. The initiative, which aims to demonstrate how digital asset innovation can connect seamlessly with core components of the financial system, is part of Project Acacia, a research project led by the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre (DFCRC).

The initiative will be supported by The Northern Trust Carbon Ecosystem™, a fully digital platform for the end-to-end lifecycle management of digital carbon credits which utilizes private ledger digital blockchain technology. With Northern Trust recording, transferring and settling digital carbon credits as instructed in its role as designated custodian, the project will simulate a delivery-versus-payment (DvP) settlement between a tokenized, digital carbon credit and fiat currency, using Swift’s infrastructure to coordinate between the asset and payment layers.

The aim is to illustrate how traditional commercial banking infrastructure can support simultaneous settlement of tokenized assets. This marks a key step forward in demonstrating interoperability between tokenized ecosystems and traditional financial infrastructure. Establishing such connectivity is critical for digital assets to become an integral part of the global capital markets.

Justin Chapman, Group Head of Strategic Partnerships, Digital Assets and Financial Markets at Northern Trust, said: “The evolution of tokenized markets hinges on our ability to link emerging asset types with traditional infrastructure. By collaborating on Project Acacia, Northern Trust is helping to prove that delivery-versus-payment of tokenized assets is not a future ideal but a present-day reality. Through The Northern Trust Carbon Ecosystem and engagement with initiatives like this, we aim to shape the market infrastructure that will underpin sustainable finance and institutional digital asset adoption.”

Northern Trust’s involvement in Project Acacia reflects its continued commitment to collaborative innovation in digital finance. The project follows its participation in other forward-looking initiatives, including Project Guardian in Singapore, where Northern Trust is working with institutional partners to pilot a green bond report tokenization solution. More recently, Northern Trust also joined Project Ensemble in Hong Kong to test cross border trading of carbon credits.

Angelo Calvitto, Head of Asia-Pacific at Northern Trust: “This collaboration demonstrates our regional leadership in bringing digital innovation to market. Australia is playing an important role in advancing real-world research, and we’re proud to contribute our expertise to a project that bridges tokenized asset platforms with banking systems in a regulated environment. Our experience across carbon markets, tokenization and financial services puts us in a strong position to help chart the next phase of market evolution.”

The Northern Trust Carbon Ecosystem™, launched in 2024, supports the growing interest in the Voluntary Carbon Market (VCM) by providing an end-to-end digital lifecycle management capability for digital voluntary carbon credits. Utilizing custom designed, private ledger digital blockchain technology, it provides a digital platform for project developers and buyers to explore, transact and retire voluntary carbon credits.

Kevin Wong, Chief Executive APAC, Swift: “The ability to integrate tokenized assets with existing financial infrastructure is critical to unlocking their full potential. This initiative demonstrates how Swift’s infrastructure can support the adoption of digital assets such as carbon credits in a delivery-versus-payment model. By enabling interoperability between existing banking infrastructures and emerging digital ecosystems, we’re helping to lay the groundwork for scalable, secure, and sustainable adoption of tokenized finance across the globe.”

Project Acacia is a research project being led by the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre to explore how different forms of digital money and associated infrastructure could support the development of wholesale tokenized asset markets in Australia.

The Northern Trust Carbon Ecosystem is offered through The Northern Trust Company, Chicago.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2025, Northern Trust had assets under custody/administration of US$16.9 trillion, and assets under management of US$1.6 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250714823365/en/

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KEYWORDS: Australia/Oceania New Zealand Australia

INDUSTRY KEYWORDS: Technology Payments Finance Fintech Banking Professional Services Digital Cash Management/Digital Assets Blockchain Asset Management

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Vertex Announces Broad Reimbursement Agreement With NHS England for ALYFTREK^® (Deutivacaftor/Tezacaftor/Vanzacaftor) an Innovative Once-Daily CFTR Modulator for the Treatment of Cystic Fibrosis

– All eligible people with CF in England can now benefit from this medicine –

LONDON–(BUSINESS WIRE)–Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) announced today that it has reached a broad reimbursement agreement with NHS England for Vertex’s cystic fibrosis (CF) medicine ALYFTREK^® (deutivacaftor/tezacaftor/vanzacaftor). This agreement comes as the National Institute for Health and Care Excellence (NICE) has issued a positive final draft recommendation for this medicine.

This next-in-class triple combination treatment is licensed for people living with CF aged 6 years and older who have at least one F508del mutation or another responsive mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene.

“We’re proud that ALYFTREK^®, our fifth CF medicine, is available today as another treatment option for all eligible CF patients in England. It represents a significant milestone in our journey to serially innovate and further improve the lives of people living with this disease,” said Ludovic Fenaux, Senior Vice President, Vertex International. “In our pivotal studies, ALYFTREK^® demonstrated the potential for even better outcomes for patients than KAFTRIO^® (ivacaftor/tezacaftor/elexacaftor). We’re pleased to have reached this agreement with NHS England that recognises the value that this new medicine brings to CF patients, their families and society.”

Following the European regulatory approval, eligible patients in Ireland, Denmark and Germany will be the first ones to access deutivacaftor/tezacaftor/vanzacaftor in the European Union. Vertex will continue to work with reimbursement bodies across the European Union member states to ensure access for all eligible patients as quickly as possible.

About Cystic Fibrosis

Cystic fibrosis (CF) is a rare, life-shortening genetic disease affecting more than 109,000 people, including 94,000 people in North America, Europe and Australia. CF is a progressive, multi-organ disease that affects the lungs, liver, pancreas, GI tract, sinuses, sweat glands, and reproductive tract. CF is caused by a defective and/or missing CFTR protein resulting from certain mutations in the CFTR gene. Children must inherit two defective CFTR genes — one from each parent — to have CF, and these mutations can be identified by a genetic test. While there are many different types of CFTR mutations that can cause the disease, the vast majority of people with CF have at least one F508del mutation. CFTR mutations lead to CF by causing CFTR protein to be defective or by leading to a shortage or absence of CFTR protein at the cell surface. The defective function and/or absence of CFTR protein results in poor flow of salt and water into and out of the cells in a number of organs. In the lungs, this leads to the buildup of abnormally thick, sticky mucus, chronic lung infections and progressive lung damage that eventually leads to death for many patients. The median age of death is in the 30s, but with treatment, projected survival is improving.

Today Vertex CF medicines are treating over 75,000 people with CF in more than 60 countries on six continents. This represents approximately 2/3 of the diagnosed people with CF eligible for CFTR modulator therapy.

About ALYFTREK^® (deutivacaftor/tezacaftor/vanzacaftor)

In people with CF, mutations in the CFTR gene lead to decreased quantity and/or function of the CFTR protein channel at the cell surface. Vanzacaftor and tezacaftor are designed to increase the amount of CFTR protein at the cell surface by facilitating the processing and trafficking of the CFTR protein. Deutivacaftor is a potentiator designed to increase the channel open probability of the CFTR protein delivered to the cell surface to improve the flow of salt and water across the cell membrane.

About Vertex

Vertex is a global biotechnology company that invests in scientific innovation to create transformative medicines for people with serious diseases and conditions. The company has approved therapies for cystic fibrosis, sickle cell disease, transfusion-dependent beta thalassemia and acute pain, and it continues to advance clinical and research programs in these areas. Vertex also has a robust clinical pipeline of investigational therapies across a range of modalities in other serious diseases where it has deep insight into causal human biology, including neuropathic pain, APOL1-mediated kidney disease, IgA nephropathy, primary membranous nephropathy, autosomal dominant polycystic kidney disease, type 1 diabetes and myotonic dystrophy type 1.

Vertex was founded in 1989 and has its global headquarters in Boston, with international headquarters in London. Additionally, the company has research and development sites and commercial offices in North America, Europe, Australia, Latin America and the Middle East. Vertex is consistently recognized as one of the industry’s top places to work, including 15 consecutive years on Science magazine’s Top Employers list and one of Fortune’s 100 Best Companies to Work For. For company updates and to learn more about Vertex’s history of innovation, visit www.vrtx.com/en-global/.

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements made by Ludovic Fenaux in this press release and statements regarding the expectations for the potential benefits of ALYFTREK, expectations for patient access to deutivacaftor/tezacaftor/vanzacaftor, and Vertex’s continued work with reimbursement bodies across the EU member states to ensure access for all eligible patients as quickly as possible. While Vertex believes the forward-looking statements contained in this press release are accurate, these forward-looking statements represent the company’s beliefs only as of the date of this press release and there are a number of risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied by such forward-looking statements. Those risks and uncertainties include, among other things, that data from the company’s development programs may not support registration or further development of its compounds due to safety, efficacy or other reasons, and other risks listed under the heading “Risk Factors” in Vertex’s annual report and in subsequent filings filed with the Securities and Exchange Commission and available through the company’s website at www.vrtx.com and www.sec.gov. You should not place undue reliance on these statements. Vertex disclaims any obligation to update the information contained in this press release as new information becomes available.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250714775266/en/

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Corpay Launches Corpay Complete as Disconnected Finance Systems Drain Time and Budget

• Corpay has launched Corpay Complete in the UK.
• The new, all-in-one platform – already live in the US and now tailored for UK businesses – unifies Accounts Payable, FX, expenses, and payments to reduce risk, cost, and complexity.
• The launch comes as UK CFOs cite cost control as 2025’s top priority – yet fragmented systems and manual finance processes remain widespread.

LONDON–(BUSINESS WIRE)–
Corpay, the global S&P500 corporate payments company trusted by hundreds of thousands of businesses worldwide, has launched Corpay Complete in the UK, a powerful, all-in-one platform designed to streamline finance operations, automate payments, and deliver real-time control over costs. Already trusted by finance teams across the US, the platform has been adapted for the complexity of UK finance, and unifies account payable processes & workflow, expense management & oversight, and domestic & international payments. With expert local support and a human-first approach, Corpay Complete turns cutting-edge technology into a true finance partnership.

The launch comes as recent data highlights that UK finance leaders are under growing pressure to do more with less – less resource, less time, less budget. According to Deloitte, 63% of UK CFOs now rank cost control as their highest business priority. In addition, just 36% of UK CFOs say that they have real-time visibility over their cash flow, while one in three UK businesses has fallen victim to invoice fraud – often due to manual processes and weak controls.

This is echoed globally as, more than half of finance professionals are still spending over 10 hours per week processing invoices. Yet despite the time drain, only 5% of finance teams are fully automated, according to the Institution of Financial Operations Leadership’s 2024 member survey – which includes responses from UK-based CFOs. The result is a clear disconnect between day-to-day workload and digital maturity. Fragmented systems make it worse, with 67% of global CFOs saying that disconnected tools are a barrier to meaningful automation and cost efficiency.

Built to meet the demands of modern finance teams, Corpay Complete helps UK businesses save time, cut costs, and take control over fragmented finance operations, by unifying accounts payable processes & workflow, expense management and both domestic & international payments into one intelligent platform.

With the ability to integrate with existing accounting software and ERP systems, Corpay Complete automates and digitises the entire finance lifecycle – from supplier onboarding and purchase order creation to invoice capture, receipt matching, expense management and payment approvals. With customisable approval flows and a mobile-first interface, the platform eliminates administrative friction, reduces the risk of errors and fraud, and frees finance teams to focus on strategic priorities. By accelerating approvals, businesses can strengthen supplier relationships and take advantage of early payment discounts to improve working capital.

The platform also enhances corporate spend control through integrated card programmes – for travel & entertainment and purchasing spend – and secure, single-use virtual cards**, helping reduce leakage and unlock potential cashback of up to 1%* on eligible payments. For organisations with international payment needs, Corpay’s market-leading FX capabilities enable fast, transparent cross-border payments to over 200 countries in 145 currencies – delivered with competitive exchange rates and no hidden fees.

Corpay Complete provides finance leaders with the clarity and oversight they need, with a single platform to track, approve, and manage payments in real time – whether at their desk or on the move via the Corpay mobile app.

Speaking on the launch of Corpay Complete, Alan King, Group President at Corpay, said “Corpay has been at the forefront of business payments in the US and globally – supporting thousands of businesses with smart, scalable finance solutions. Now, we’re extending that expertise to the UK with Corpay Complete, our all-in-one platform built specifically for today’s finance leaders.”

King added: “The timing couldn’t be more critical. Between the acceleration of digitisation, the rise of embedded finance, and widening skills gaps in finance teams, UK businesses are under growing pressure to do more with less. Corpay Complete is purpose-built to give greater control and real-time visibility to financial controllers – a solution that unifies accounts payable, FX, and expenses, helping finance teams work smarter, move faster, and manage risk with confidence.”

Corpay supports over 800,000 corporate clients worldwide, processing $320 billion in payments annually on their behalf, and providing them with over $700 million in rebates on their business spend. As one of the largest FX providers in the UK, Corpay Cross Border Solutions also trades more than $320 billion in foreign exchange each year – giving businesses access to much more competitive rates than those offered by mainstream banks – all processed via a trusted global payment infrastructure. The launch of Corpay Complete in the UK marks a major step towards helping companies simplify their finance operations and payments execution – bringing together fragmented and complex processes into a single, intelligent and automated platform that takes advantage of Corpay’s global payments & FX expertise.

Recognised by Forbes as one of the world’s most innovative companies and by TIME as one of the world’s best, Corpay brings entrepreneurial energy, proven scale, and deep industry expertise to the global payments space. With a track record of simplifying complex payment processes for businesses worldwide, Corpay is now setting its sights on transforming the way UK finance teams operate – starting with Corpay Complete.

For more information about Corpay Complete, visit: https://www.corpay.com/corpay-complete

* Rebates terms & conditions subject to agreed card-based volumes on monthly spend. Level of rebate for illustration purposes only and rate paid will depend on monthly spend.

** estimated delivery Q4 2025

About Corpay

Corpay (NYSE: CPAY) is a global S&P500 corporate payments company that helps businesses and consumers pay expenses in a simple, controlled manner. Corpay’s suite of modern payment solutions help its customers better manage vehicle-related expenses (like fuelling and parking), travel expenses (like hotel bookings) and payables (like paying vendors). This results in our customers saving time and ultimately spending less.

Corpay – Payments made easy.

‘Corpay’ and ‘Corpay Complete’ are trading names of Allstar Business Solutions Limited. Payment services provided by Allstar Business Solutions, Canberra House, Lydiard Fields, Swindon, Wiltshire, SN5 8UB, Registration Number 2631112 GB. Allstar Business Solutions is authorised by the Financial Conduct Authority under the Electronic Money.

Regulations 2011 (register reference 900470) for the issuing of electronic money and the provision of payment services.

‘Cambridge Global Payment’ and ‘AFEX’ are trading names that may be used for the international payment solutions and risk management solutions provided by certain affiliated entities using the brand ‘Corpay’. International payment solutions are provided in the United Kingdom through Cambridge Mercantile Corp. (UK) Ltd.

To learn more visit www.corpay.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20250714753610/en/

Scott Girling-Heathcote. SkyParlour for Corpay

[email protected]

+44 (0)330 043 1315

KEYWORDS: Europe Ireland United Kingdom

INDUSTRY KEYWORDS: Professional Services Payments Technology Finance Software Fintech

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