- Crypto exchange Bitstamp has joined forces with Signet, Signature Bank’s commercial digital payments platform.
- The integration allows Bitstamp customers to transfer USD to and from the exchange in real-time quickly.
Crypto exchange Bitstamp has recently announced its integration with Signet, Signature Bank’s commercial digital payments platform. Through this integration, Bitstamp has increased the availability of around-the-clock, near-instant transfers to its institutional clients. The solution also allows users to transfer USD to and from the exchange in real-time. Clearing and settlement completed within a matter of seconds.
Bitstamp has become the first crypto exchange to integrate with Signet. The latter is based on a private implementation of the Ethereum blockchain, which allows institutions to move money within seconds by settling transactions using Signet tokens.
By joining forces with Signet and other similar platforms, Bitstamp has established a secure network for institutions to transfer and trade funds and digital assets. Miha Grčar, Bitstamp’s Global Head of Business Development, said:
Enabling frictionless flow of funds is one of the key areas that can help drive institutional adoption of cryptocurrencies. Signet combines blockchain’s strengths with the financial industry’s needs, which makes their approach and their platform a great fit for what we’re working towards at Bitstamp.
Signature Bank President and Chief Executive Officer Joseph J. DePaolo, said:
The Signet Platform is proving to be beneficial to many types of industries in need of instantaneous transactions to conduct their business operations. We continue to advance the platform as evidenced by the new API integration. Bitstamp and its type of business model is yet another example of the companies and industries which Signet can support by providing real-time transactions, payments and settlements.
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