Signature Bank, a US-based commercial bank, has aligned with trueDigital Holdings, LLC, a US-based financial technology firm, to launch Signet, a new Ethereum-based digital payments platform.



The current payment platforms take around 3-4 working days for processing and are not available during weekends. As claimed, Ethereum-based Signet will allow the commercial and asset management clients of the bank to make payments in real-time. The clients will be able to make payments in US dollars 24/7 all through the year.



The platform is built on a permissioned version of the Ethereum blockchain. Signet, the digitized US dollar, are compatible on Signet platform only. It cannot inter-operate with other exchanges or applications that are built on Ethereum blockchain.

