According to TechFlow, on July 23, Bloomberg reported that two Swiss banks, AMINA Bank AG and Sygnum Bank AG, recently launched a real-time payment and settlement network to fill the market gap left by the collapse of Silvergate Exchange Network and Signature Bank's Signet platform.
The two platforms once played a key role in the crypto market, providing liquidity to the market. According to company documents, Signature processed $117 billion in transfers in the quarter before its collapse, while Signet processed $275.5 billion in transfers. European banks hope to revive the 24/7 payment market in the digital asset field through this new network.
