Open Corridor is a payment network between licensed banks. Customers are credited in seconds, every promise is anchored on a public ledger neither bank controls, and banks settle only the netted difference — per corridor, on the rail the two banks choose.
One payment's journey, in five steps.
Someone asks their bank to pay a person at another bank, in another country: who is paying, who receives, how much.
The sending bank debits its customer and publishes a promise on a public ledger. The promise is a fingerprint of the payment — no names or amounts are visible to outsiders.
The receiving bank checks the details against the published promise and pays its customer straight away — before any money moves between the banks.
Each bank keeps a running total of what it has promised but not yet paid the other — the score since they last settled up.
At any time, either bank settles. Payments in both directions cancel out; only the difference is transferred, in one payment, at a locked rate.
Any bank can join using its existing systems and a small tech team. The connection point is the OBP Bank Node — an open-source gateway each bank runs on its own infrastructure, under its own control.
Open Corridor handles messaging, promises, and netting. Moving the settled value needs a rail — and the network takes no bet on a winner: the rail is a per-corridor choice between the two banks, not a design commitment.
Settle over Cardano. Exposure is minimal by construction: only the netted difference moves, the exchange rate is locked at settlement time, and the asset is held only briefly. Stablecoin settlement follows the same path — including regulated, fiat-backed assets and African stablecoins as they mature.
Existing correspondent arrangements carry one netted settlement instead of every payment: fewer fees, one FX conversion at a locked rate — and customer speed no longer depends on the rail, because customers are credited at promise time.
Built on the Open Bank Project stack, following the security standards European regulators already require of open banking.
Prime Transmission International — the Nigerian-based fintech that conceived of the Prime Transmission Network idea. Prime Transmission International works alongside TESOBE to connect Open Corridor with licensed banks in Nigeria and beyond, turning the network from open code into live payment corridors.
TESOBE — the Berlin-based maker of the Open Bank Project, the original open-source banking API platform, in continuous development since 2010. An inspiration for UK Open Banking; 15+ years of engineering with banks and regulators worldwide; networks of banks, fintechs, and entrepreneurs across Africa. The platform and the Bank Node are open code: banks and regulators can inspect exactly what runs — and pilot banks work directly with the engineers who build it.