trueDigital Launches Revolutionary Real-Time Payments Platform in Partnership with Signature Bank

“The partnership between trueDigital and Signature Bank will quickly prove to be extremely beneficial and revolutionary for clients globally as they will now be afforded the opportunity to make instantaneous USD payments to one another in real-time at no cost per transaction. There are many commercial enterprises and transactions that benefit from real-time payments capabilities, such as the wholesale energy distribution market and over-the-counter institutional trade and settlement activities, just to name a few,” said Sunil Hirani, Founder of trueDigital.

“The ability to transmit funds between approved, fully vetted institutional clients at all times is very valuable, in light of the increasing speed and frequency at which they conduct their business. We believe the new Signet program will further differentiate both Signature Bank and trueDigital and equip our clients with the necessary tools for the future,” said Joseph J. DePaolo, President and Chief Executive Officer at Signature Bank and Scott A. Shay, Chairman of the Board.

Kevin Lupowitz, Chief Operating Officer of trueDigital, noted: “We are pleased to partner with Signature Bank. The launch of Signet will address an obvious need that diverse ecosystems have in terms of needing to exchange funds repeatedly with the same counterparty. This will significantly reduce costs, operational and counterparty risks and settlement times.”

trueDigital will continue to expand its own payments platform by adding additional currencies and paired transactions in currencies from the Americas, Europe and Asia.

Signature Bank is regulated by both the Federal Deposit Insurance Corporation and the New York State Department of Financial Services.