Matrixport Leverages Signature Bank’s SignetTM to offer Real-Time USD Settlement Service
Matrixport announced today, effective immediately, its institutional custodian service, Cactus Custody, utilizes Signature Bank’s blockchain-based digital payments platform, SignetTM, to offer real-time crypto and fiat settlement service to its institutional clients.
Cactus Custody is a qualified third-party digital asset custodian and a Hong Kong trust company that brings secure and transparent institutional custodian services and comprehensive enterprise grade crypto management system to the industry. Signature Bank, member FDIC, a New York-based full-service commercial bank, allows its commercial clients to leverage Signet to make instantaneous payments in U.S. dollars, 24/7/365. The payments process is real time and without transaction fees.
By utilizing Signet, Cactus Custody offers its clients access to an innovative bank infrastructure and service now. Institutional clients on Cactus Custody can manage their crypto assets as well as fiat asset (USD) within the same custody user portal, while enjoying real-time zero-cost fiat and crypto settlement, empowered by the blockchain technology.
“Matrixport and Signature Bank had a long-established business relationship. We love the team and the work they have done. At Matrixport, we use Signet for instantaneous payment and settlement with various clients, business partners and even intra-group transfers on daily basis. At Cactus Custody, our clients would like to make settlement and have available assess to their funds, be it cryptocurrency or fiat, anytime when they need it and we thrive to provide maximum efficiency to them. Signet became an apparent infrastructure that we’d like to integrate to provide frictionless, 24/7 uninterrupted USD payment and settlement.” said Cynthia Wu, Head of Custody at Matrixport.
“Signet is proving beneficial to companies such as Matrixport since the platform offers flexibility, and payments can be made in real-time, with no fees. Signet’s capabilities are making a difference for all businesses like Cactus Custody and their clients, where the processing of instanteous payments are integral to the success of their operations,” said Joseph J. DePaolo, Co-Founder, President and Chief Executive Officer at Signature Bank.