TechFlow reported on July 23, according to Bloomberg, that two Swiss banks, AMINA Bank AG and Sygnum Bank AG, have recently launched a real-time payment and settlement network aimed at filling the market gap left by the collapse of Silvergate Exchange Network and Signature Bank's Signet platform.
These platforms previously played a crucial role in the crypto market by providing liquidity. According to company filings, Signature processed $117 billion in transfers in the quarter before its collapse, while Signet handled $275.5 billion. European banks hope to revitalize the round-the-clock payments market in the digital asset sector through this new network.
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