Signature Bank’s real-time encrypted payments network Signet continues to operate normally after the company was taken over.

It is reported that Signet is a blockchain-based system that provides 24/7 fiat currency exchange services for the crypto market. It is a competitor of Silvergate's SEN network (which has been suspended). Its users include crypto companies such as Circle and Coinbase. Signet uses technology developed by Tassat to build private blockchains for banks. (Bloomberg)