After Senate Banking Listening to on Stablecoins, Chief in Digital B2B Funds Cautions Lawmakers {that a} Answer Already Exists

NEW YORK–(BUSINESS WIRE)–In response to the U.S. Senate Committee on Banking, Housing, and City Affairs listening to “Analyzing the President’s Working Group on Monetary Markets Report on Stablecoins,” Tassat^® Group Chairman and CEO Kevin R. Greene mentioned:

“Between at present’s Senate Banking Committee listening to and final week’s listening to earlier than the Home Monetary Companies Committee, it’s clear that lawmakers are engaged and able to regulate stablecoins. Whereas it is going to be essential to offer a regulatory framework to guard shoppers and our monetary system, these discussions miss an essential level. Instantaneous and safe blockchain-based funds could be achieved at present with options that exist fully throughout the present regulatory construction.

“Options like The Digital Interbank Community, which is owned and managed by U.S. regulated banks, allow banks and their prospects to successfully compete and win in our more and more digital economic system, whereas avoiding the dangers recognized by the President’s Working Group and Below Secretary Liang.”

Attribution: Kevin R. Greene, Chairman and CEO, Tassat Group

The Digital Interbank Community™ allows member banks to execute safe and instantaneous real-time funds and different banking providers between their business prospects, 24/7/365, through personal, permissioned blockchains.

In December 2021, The Digital Interbank Community carried out the first-ever public demonstration of an instantaneous, real-time switch of digital {dollars} between two banks utilizing blockchain know-how. At the moment, greater than 200 banks throughout the nation are in discussions relating to becoming a member of The Community. A 40-bank working group has been established to assist information The Community to a deliberate 2022 launch.

About Tassat Group

Tassat^® Group Inc. is a know-how firm that’s the main supplier to banks of personal blockchain-based, real-time options together with TassatPay^®, which allows banks to offer their prospects with instantaneous, safe, real-time funds 24/7/365. Tassat offers an onramp for banks to start transitioning from legacy know-how to blockchain know-how that not solely will make current providers corresponding to funds extra environment friendly, but in addition creates alternatives in areas corresponding to good contracts. Tassat not too long ago was honored with a 2021 Google Cloud Buyer Award for innovation in monetary providers. For extra data, go to us at www.tassatpay.com/, on Twitter or on LinkedIn.

About The Digital Interbank Community

The Digital Interbank Community^TM is the primary member bank-owned blockchain-based, real-time cost community for banks. Owned and ruled by member banks, The Community allows its members to execute instantaneous, safe, real-time funds and different banking providers throughout banks 24 hours a day and 12 months a yr. The Community is a extremely safe, personal and permissioned blockchain-based cost instruction and settlement platform that’s accessible solely by member banks. Tassat, The Community’s sponsor, unveiled The Digital Interbank Community with a stay demonstration of the primary real-time digital cost between two banks utilizing blockchain know-how. For extra data, go to https://www.interbanknetwork.com/.

About Kevin R. Greene

Along with his roles at Tassat, Kevin Greene serves as a Managing Accomplice of James Alpha Administration, an investor in Tassat.

Previous to becoming a member of James Alpha, Greene served as Chairman and CEO of Capital Useful resource Holdings, LLC, the holding firm father or mother of CRA RogersCasey, one of many nation’s main pension consulting companies. He beforehand based Bryant Park Capital, a privately held funding financial institution specializing in personal fairness financing and mergers and acquisitions for each personal and public firms within the U.S. and Europe. Since 1991, Greene has served because the Chairman and CEO of KR Group, a global consulting and funding banking agency, which he based. His early profession included positions as a Senior Guide with McKinsey & Co., and as a Senior Commodities Analyst with E.F. Hutton.

Greene holds a B.A. diploma in Economics (with distinction) from Georgetown College, a grasp’s diploma in Public Coverage (Kennedy Scholar) from Harvard College and an MBA in Finance from New York College. Greene is a former Chairman of the Younger Presidents’ Group’s Manhattan chapter, and has served on many private and non-private boards.