Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank, announced today it appeared on Forbes’ Blockchain 50 List 2022, which tracks the usage of blockchain technologies around the globe. Signature Bank is one of only seven companies (and one of two banks) to be included on the list every year since the inaugural ranking appeared in Forbes in 2019. In this year’s recently released list, Forbes dubbed these companies the “Magnificent Seven.”
Signature Bank was the first FDIC-insured bank (along with its technology partner, Tassat) to launch a blockchain-based digital payments platform. Its Signet™ solution allows the Bank’s commercial clients to make real-time payments in U.S. dollars, 24/7/365 and was also the first to be approved for use by the NYS Department of Financial Services.
“We were at the forefront of banking technology when we began serving clients in the digital assets arena in 2018 and then when we launched Signet in 2019. We continue to advance and incorporate technology into our commercial banking services offering to help enhance our clients’ businesses. It is our foresight about how technology would influence banking along with advancements we’ve made and our pioneering position that has continually been captured by Forbes since it introduced its Blockchain 50 list,” said Signature Bank President and Chief Executive Officer Joseph J. DePaolo.
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