TassatPay, a startup with a blockchain platform for B2B payments, raised $40 million in funding earlier this month that hasn’t yet been publicized. Yesterday it launched its Digital Interbank Network (“The Network”) to enable U.S. banks to settle payments with each other in real-time 24/7 using tokenized bank money as digital dollars.
The company hasn’t come out of nowhere. Two U.S. banks, Silvergate Bank and Signature Bank, have become the go-to banks for cryptocurrency companies. Signature Bank has its Signet network, which enables its customers to settle in real-time between each other. Signet is powered by TassatPay using an enterprise blockchain version of Ethereum.
Other clients include Customers Bank and Western Alliance Bank, and the company says its technology has processed more than $350 billion in payments to date.
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