The nearly $74 billion asset Signature Bank ( NASDAQ:SBNY), which is based in New York City, has also jumped into the world of cryptocurrency with its Signet digital payments system.
Which US banks have approved blockchain digital payments?
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. According to Signature Bank’s CEO and President Joseph J. DePaolo:
Why did Signature Bank sign a deal with TrueUSD?
According to Signature Bank’s CEO and President Joseph J. DePaolo: The relationship with Trueusd enhances Signature Bank’s offering to its existing commercial clients. Through arrangements like this one, Signature Bank is further strengthening its position as one of the pre-imminent banks in the digital assets space.