Signature Bank’s Blockchain Payment Platform to Accept Trueusd Stablecoin
Signature Bank has become the first U.S. financial services provider to adopt stablecoins specifically for payments. The Trueusd stablecoin has been integrated with its Signet digital payment platform to deliver instant dollar payments.
Signet Integration to Deliver 24/7 Dollar Payment and Settlement
As more enterprises flirt with the idea of blockchain-based products and services, stablecoins are one of the areas of fascination for banks, especially given their possibilities in terms of speed and reliability.
Signature Bank has become the first U.S. financial services provider to adopt stablecoins specifically for payments. Its Signet digital payments platform has entered into a partnership with Trueusd to integrate its multichain stablecoin (TUSD) with its payment services. Accordingly, the platform can now offer TUSD minting and redemption in real-time.
Signature Bank, the first FDIC-insured and New York State Department of Financial Services (NYDFS) approved U.S. commercial bank to launch a blockchain digital payments platform, has welcomed the development.
