New York-based commercial lender Signature Bank has rolled out its blockchain-based digital payments platform Signet on Fireblocks network.
An enterprise-grade platform, Fireblocks offers an infrastructure to move and store digital assets.
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The move will allow Signature Bank clients use Signet to carry out transactions on the Fireblocks Network through console and Application Program Interface (API) connectivity.
It is expected to expedite and increase security during fiat and cryptocurrency settlements and payments.
The step comes after Signature Bank added API to improve Signet’s capabilities. Signet APIs enables integration of banking systems with the Signet platform providing users with full transactional capabilities.
Signature Bank president and CEO Joseph DePaolo said: “The integration with Fireblocks will offer enhanced services to our clients. With this latest banking technology innovation, Signature Bank remains at the forefront as we advance our Signet product and its capabilities.
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By GlobalData“As the digital needs of our clients continue to evolve and the broader adoption of asset tokenisation increases, Signet APIs are yet another example of how we continuously strive to help our clients deliver better business performance and improve their operations.”
Signet platform was introduced last year to enable instantaneous payments among Signature Bank clients. The platform is approved by the New York State Department of Financial Services.
