Two Swiss banks launch real-time payments and settlement network to fill crypto payment gap

About a year and a half after the collapse of crypto-friendly banks in the United States, European banks are pushing to revive the 24/7 payment market in the digital asset sector. In recent weeks, two Swiss banks - AMINA Bank AG and Sygnum Bank AG - launched real-time payment and settlement networks. The goal is to fill the market gap left by Silvergate Exchange Network (SEN) and Signature Bank's Signet platform, which played a key role in bringing liquidity to the crypto market before their collapse in March 2023. In the quarter before the closing, SEN processed $117 billion in transfers, while Signet processed $275.5 billion, according to company documents. (Bloomberg)