Tassat says the partnership will deliver enhanced payments functionality for the bank’s business clients and low-cost core deposit growth for the bankIt has kicked off a national expansion, with offices opened in Florida, Texas, and Illinois
According to Tassat, Customers Bank chose it for its “digital payments expertise and track record” of running a high-volume B2B payments platform.
The firm uses blockchain technology to tokenise US dollar deposits at banks to provide “secure, frictionless instant payments”.
It offers an API that lets bank customers embed its capabilities into their own systems. Tassat’s first implementation was launched in 2019 and has since processed “billions of dollars” in transactions over digital rails.
