Alliance boosts Glasstower's position with market-leading blockchain-based digital payments technology
NEW YORK--(BUSINESS WIRE)--Tassat Group, Inc., the leading provider of private permissioned blockchain-based real-time settlement solutions, today 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.
About Tassat Group
Tassat Group, Inc. is a N.Y.-based technology company. Tassat is an infrastructure provider to empower organizations with private blockchain-based, real-time transaction, settlement, and data reconciliation solutions. Tassat’s offerings include TassatPay, the most trusted real-time finance platform with over $1.8 trillion in executed instantaneous transactions to-date. Tassat has added Smart Contracts and Fedwire functionality to make TassatPay a one-stop shop for B2B real-time settlement capabilities. Tassat was honored with a 2021 Google Cloud Customer Award for innovation in financial services. For more information, visit us at www.tassat.com, on Twitter or on LinkedIn.
About Glasstower
With a consortium of over twenty global financial partners and advisors, Glasstower Digital Inc is a first-of-its-kind fintech technology platform that allows money-markets-fund-backed cross-border B2B payments. Glasstower users can affect FX transmittals at a fraction of the cost and a fraction of the time it typically takes for funds to clear. Users of Glasstower’s B2B FX tech solution are multinational corporations, CFOs, treasury managers, international charities, global professional services firms and financial institutions. The company is headquartered in Greenwich, Connecticut and its website is www.glasstower.co.
Contacts
Tassat
Media
Nneka Etoniru
tassat@bevelpr.com
Glasstower Digital
Media
Scott Krady
scott@magnitude-growth.com