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Signature Bank’s Real-Time Crypto Payments Network Still Online, for Now

Signature Bank’s payments network — used by cryptocurrency firms looking to exchange fiat currency in real time — is still online even after the lender was put into receivership.

Signet, a blockchain-based system, has been a key piece of the infrastructure powering the 24/7 crypto market. The system, a competitor to Silvergate Capital Corp.’s now-defunct SEN, counted stablecoin issuer Circle, crypto exchange Coinbase and a range of crypto trading shops among its users. Signet used technology developed by Tassat, which builds private blockchains for banks.

Signature Bank Silvergate Capital
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