Customers Bank partners with Tassat Group to deliver blockchain payments

Fibo Quantum

Customers Bank, a subsidiary of Customers Bacorp Inc., has partnered with Tassat Group Inc., a blockchain technology provider for digital payments, to introduce the Customers Bank Instant Token on the real-time blockchain-based payments platform TassatPay. With this tool, business-to-business clients can tokenize their U.S. dollar deposits for real-time blockchain payments, according to a press release.

“By using the TassatPay platform, we have removed payment risk, clearing, settlement and confirmation delays for clients,” Sam Sidhu, president and CEO of Customers Bank, said in the release. “While not every commercial client will adopt this service immediately, we believe this is the future of banking and puts Customers Bank at the forefront of the modern financial services industry.”

The platform also supports smart contracts and can handle multiple digital currencies.

“We’re delighted that Customers Bank has given its clients access to the TassatPay platform,” Ron Totaro, CEO of Tassat, said in the release. “TassatPay gives them secure and reliable real-time settlement for any B2B transaction, around the clock, 365 days a year, with no size limitations, all on blockchain rails.”

Wood Profits Banner>