Signature Bank a New York full service commercial bank and one of the leading financial institutions serving the blockchain industry, has partnered with Prime Trust, a technology-driven financial institution providing infrastructure solutions for the digital economy. Prime Trust’s Prime Settlement Network, one of the most advanced multi-asset counterparty settlement platforms in the world, will leverage Signature Bank’s Signet™ platform, a revolutionary blockchain-based digital payments platform, to provide real-time payment and settlement services to Signature Bank and Prime Trust’s institutional clients.
Through this new relationship, Prime Trust and their clients, which include many verticals in the digital asset industry, can utilize Signet to fund and settle their accounts in real-time, 24/7/365. “The relationship we have forged with Prime Trust will allow their clients to immediately settle their transactions through the revolutionary Signet platform. Any Signature Bank commercial client participating on the Signet platform has the ability to make instantaneous payments in U.S. dollars, any time without transaction fees. Prime Trust’s institutional clients requiring immediate settlements for digital asset trades truly stand to benefit from Signet’s capabilities,” explained Joseph DePaolo, President and Chief Executive Officer at Signature Bank.
“Forging a client relationship with Signature Bank and capitalizing on the advantages of Signet will prove valuable to our company and clients. Signature Bank has established a proven track record in the blockchain payment space and is now recognized for the outstanding services it brings to digital asset traders and exchanges. We look forward to creating new efficiencies for our clients in conjunction with Signature Bank and the Signet team,” commented Whitney White, Prime Trust’s Chief Operating Officer, Chief Technology Officer and Executive Trust Officer.
In 2018 Signature Bank had signed an agreement with True Digital Holdings to launch their Signet platform