Tassat

Tassat Group Inc. operates as a New York-based financial technology firm, supplying private permissioned blockchain infrastructure for the banking sector. Established in 2017, the company's mission is to modernize financial services by working directly with banks within the existing U.S. regulatory framework. The firm was co-founded by Sunil Hirani, with Kevin Greene joining the board the same year and later assuming the roles of Chairman and CEO. Greene's background includes founding the investment bank Bryant Park Capital and consulting for McKinsey & Company, bringing extensive financial and strategic experience to Tassat's objective of integrating blockchain with traditional banking.

The company's core business revolves around its flagship platform, TassatPay®, which is designed to address inefficiencies in the B2B payments market. Tassat targets U.S. banks, providing them with the technology to offer their corporate clients real-time payment and settlement services, 24/7/365. This is achieved by tokenizing U.S. Dollar deposits held at FDIC-insured institutions onto a private blockchain, enabling instantaneous value transfer between the bank's commercial customers without size limitations. Tassat's business model centers on empowering banks to enhance their service offerings, increase deposits, and build stronger client relationships rather than disintermediating them.

The TassatPay platform is built on a private, permissioned version of the Ethereum blockchain, utilizing a proof-of-authority model for security and efficiency. This architecture allows for seamless integration with banks' existing core systems from providers like FIS, Fiserv, and Jack Henry. Beyond simple payments, the platform supports smart contracts for automating complex transactions and has introduced The Digital Interbank Network™, which extends real-time settlement capabilities across different member banks. With a transaction volume surpassing $2 trillion, TassatPay's adoption by institutions such as Customers Bank, Cogent Bank, and Western Alliance Bank underscores its position in the digital transformation of commercial banking.

Keywords: B2B payments, blockchain for banking, real-time settlement, digital dollar, tokenization, financial technology, private permissioned blockchain, TassatPay, Digital Interbank Network, bank-grade blockchain, core banking integration, commercial payments, institutional crypto, financial infrastructure, smart contracts, FDIC-insured digital currency, instant settlement, payment platform, cross-bank payments, corporate banking solutions