Banks’ blockchain payment networks are not just for cryptocurrency
The small group of banks providing blockchain-enabled payments are increasingly looking to leverage the technology to support transactions in areas not related to digital assets. For instance, Tassat Group Inc.’s payment network TassatPay was launched in 2019 to support Signature Bank’s Signet, which settles cryptocurrency trading transactions in U.S. dollars. Since then, TassatPay has expanded into traditional […]
Blockchain bank payment solution TassatPay logs $1 trillion transactions
TassatPay, a blockchain payment solution deployed by six U.S. banks, has passed the $1 trillion transaction mark, with $150 billion processed this January alone. The solution launched in 2019 and enables bank balances to be tokenized, supporting 24/7 real-time payments between customers of the same bank. Last year it also launched the Digital Interbank Network with three […]
Supercharging Tassat’s B2B blockchain with FedNow
The new year brings with it the ever-looming inevitability of FedNow. The new payment rail, the first U.S. update on a federal level since the 1970s, will bring real-time payments to the finance sector around the clock. Of course, fintech was already addressing this need but has been held back by the delay in the […]
Bankchain Briefing: Banks onboard the blockchain train
9 Expert Predictions About the Future of Banking in 2023
The banking industry has been rapidly evolving over the past few years. It’s now easy to make many transactions with the click of a button, and the rise of online banks and neobanks has given consumers more choices about where and how they do their banking. So what does the future hold? To find out, I […]
Fintech One-on-One with Peter Renton: Episode 404, Kevin Greene, Tassat
While there are plenty of instant payment options for consumer like Cash App, PayPal, Venmo and Zelle. But when it comes to business payments it is a different story. And those aforementioned payments are not really instant, they still settle like all other bank transactions, typically in two business days. This is all about to […]
Banks send each other $500 million on day of blockchain launch
As small-business and corporate customers increasingly ask for real-time payments, for certainty of settlement and efficient use of their working capital, Sam Sidhu wants to meet that need.
Banks execute transfer on blockchain-enabled network
Customers Bank, Western Alliance Bank and Cogent Bank completed the first transfer of funds Oct. 1 between the banks’ commercial customers using a blockchain-enabled payment network developed by Tassat Group Inc.
Tassat’s blockchain interbank payments network goes live with 3 banks
Today Tassat Group announced the go-live of The Digital Interbank Network for real-time business-to-business payments. Cogent Bank, Customers Bank and Western Alliance Bank started transacting on the private blockchain network on Saturday and completed 400 transactions worth $500 million.
Chicago-Based Byline Bank Adopts TassatPay for Real-Time Payments
Chicago-based Byline Bank has signed with Tassat Group to use the blockchain-based platform TassatPay to give the bank’s B2B customers access to real-time payments at any time and with no limits on transaction size or volume.