Tassat Group, Inc., the leading provider of private permissioned blockchain-based real-time settlement solutions, announced its strategic partnership with Glasstower Digital Inc., a financial technology company facilitating cross-border, blockchain-based, B2B remittances.
The collaboration accelerates global digital payments for multi-national corporate institutions and empowers Glasstower with a revolutionary turnkey technology solution for immediate, secure, and cost-effective digital cross-border payments.
Tassat’s interoperable infrastructure empowers financial institutions with real-time transaction, settlement, and data reconciliation capabilities. TassatPay, the company’s flagship product, is the most trusted real-time finance platform with more than $1.8 trillion in executed transactions to date.
“Private blockchain delivers immediate value for corporate organizations to execute cross-border transactions for treasury management with greater control of security and efficiency in a trusted, auditable and streamlined system for sharing data and executing agreements by leveraging smart contracts,” said Zain Saidin, Chief Executive Officer of Tassat. “Glasstower’s model of using money market funds as a non-bank B2B cross-border digital payments rail provides liquidity efficiency and diversification for risk management.”
Powered by Tassat, Glasstower’s technology platform provides corporate users with high yields on balances backed by global money market asset managers. Its ecosystem of trusted, well-regulated participants operates seamlessly within Glasstower’s tightly permissioned digital environment.
“Tassat’s proven, industry-leading technology is a major asset for financial organizations and service providers,” said Keith Styrcula, CEO and Founder of Glasstower Digital. “The digital transformation of capital will revolutionize finance on a global basis and Glasstower’s partnership with Tassat will accelerate our momentum in bringing a first-of-its-kind, blockchain-based B2B digital payments technology solution to our corporate and institutional users.”
According to Juniper Research, global B2B payments are projected to grow 40% to $124 trillion by 2028 following widespread adoption of digital payments. Glasstower’s money market-based technology platform is uniquely positioned on the cutting-edge of the cross border B2B digital payments revolution.
SOURCE: BusinessWire