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 existing customers participating – Cogent, Customers and Western Alliance. All TassatPay clients are FDIC insured.
Signature Bank has grabbed headlines of the six banks using TassatPay because its crypto clients use the permissioned blockchain. During a recent earnings call, Signature shared details about its Tassat-powered Signet network.
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