FuSSE项目：探索灵活、可扩展和安全的结算引擎

Project FuSSE(FullyScalable Settlement Engine)Project FuSSE(Fully Scalable Settlement Engine) Exploring the scalable, flexible and secure design of modern settlement enginesExploring the scalable, flexible and secure design of modern settlement engines January 2026January 2026 Publication date: January 2026. © Bank for International Settlements 2026. All rights reserved. Brief excerpts maybe reproduced or translated provided the source is stated. The opinions expressed in this work are those of the authors and do not necessarilyreflect the views of the Inter-American Development Bank, its Board of Directors orthe countries they represent. Contents Acronyms and abbreviations5 Executive summary7 1. Introduction9 2. Project FuSSE11 2.1 Overview112.2 Technical approach112.3 Monolithic vs microservices architectures122.4 Architecture and components142.5 Microservices design and workflow162.6 Cryptography172.7 Monitoring19 3. Results and discussion20 3.1 Test results203.2 Discussion20 4. Conclusion24References25Appendix A: Underlying technologies27Appendix B: Testing and results30Appendix C: Applicability32Appendix D: Security learnings from the cryptographic microservices34Contributors36 Acronyms and abbreviations Executive summary Financial market infrastructures (FMIs) are the backbone of the financial system andmust remain secure, resilient and adaptable as technologies and markets evolve. Thecontinued global rise of digital payments – accelerated by rapid innovation in areassuch as the Internet of Things (IoT), artificial intelligence (AI)-driven commerce andexpandingfintech participation–places increasing demands on existinginfrastructures.These developments promise efficiency and inclusion but alsointroduce greater complexity, scalability challenges and new forms of operational andcyber risk. Tomeet these challenges,the next generation of FMIs will need to embodythree reinforcing design qualities: flexibility, to adapt to innovation and regulatorychange; scalability, to accommodate sustained growth and stress conditions; andsecurity, to ensure quantum readiness and cryptographic agility1in an evolving threatenvironment. Project FuSSE (Fully Scalable Settlement Engine) explored these issues through aproofof concept(PoC)that examined how a modular,microservices-based2architecture could support the design of flexible, scalable and secure settlementsystems. The project showed that microservices could enable systems to process hightransaction volumes efficiently, achieving 10,000 transactions per second (TPS)3without linear increases in computing power. This architecture allows for individualservices, including those handling cryptographic operations, to scale independently,improving performance and resilience. It could also facilitate cryptographic agility,enablingadaptation to emerging post-quantum cryptography(PQC)standardswithout large system redesigns. At the same time, the project highlighted trade-offs. Microservices architecturesintroduce new layers of operational complexity, require careful orchestration andexpand the potential attack surface. PQC algorithms add computational overhead,which could multiply across service boundaries, but these impacts could be mitigatedthrough targeted scaling and load management. The project also underscored that operational agility – the ability of institutions toadapt governance, certification and incident-response frameworks in parallel withtechnological change – is as important as cryptographic agility for maintaining trustand continuity. Forsome advanced economies already running high-capacity instant paymentsystems (IPS), Project FuSSE showed approaches to modularising the settlement core-breaking it into distinct components-and embedding quantum-resilientcryptography and how this could enable cryptographic and operational agility. For some smaller or emerging-market jurisdictions that may be operating legacyarchitectures and considering upgrading their systems or planning to introducereal-time settlement, the project demonstrates a modular, open source approach thatcouldscale without requiring one-for-one(ie linear) increases in infrastructureinvestment. Although Project FuSSE is a PoC, its findings provide practical insights for centralbanks and FMI operators. Its purpose is to explore design principles – not to prescribeoperational models or policy choices – and as such it could be deployed by interestedparties for experimentation and learning. The results should be interpretedas technical findings illustrating architecturalfeasibility under controlled test conditions, rather than a performance benchmark orimplementation guide. The project does not deliver a minimum viable product (MVP)or production-ready components of a system, nor does it meet operational, securityor regulatory requirements under the principles for financial market infrastructures(PFMI). The findings of the project could help system designers consider importantaspects