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After Senate Banking Hearing on Stablecoins, Leader in Digital B2B Payments Cautions Lawmakers that a Solution Already Exists

NEW YORK–(BUSINESS WIRE)–#DigitalB2BPayments–In response to the U.S. Senate Committee on Banking, Housing, and Urban Affairs hearingExamining the President’s Working Group on Financial Markets Report on Stablecoins,” Tassat® Group Chairman and CEO Kevin R. Greene said:

Between today’s Senate Banking Committee hearing and last week’s hearing before the House Financial Services Committee, it is clear that lawmakers are engaged and ready to regulate stablecoins. While it will be important to provide a regulatory framework to protect consumers and our financial system, these discussions miss an important point. Instantaneous and secure blockchain-based payments can be achieved today with solutions that exist entirely within the current regulatory structure.

Solutions like The Digital Interbank Network, which is owned and managed by U.S. regulated banks, enable banks and their customers to effectively compete and win in our increasingly digital economy, while avoiding the risks identified by the President’s Working Group and Under Secretary Liang.”

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

The Digital Interbank Network™ enables member banks to execute secure and instantaneous real-time payments and other banking services between their commercial customers, 24/7/365, via private, permissioned blockchains.

In December 2021, The Digital Interbank Network performed the first-ever public demonstration of an instantaneous, real-time transfer of digital dollars between two banks using blockchain technology. Currently, more than 200 banks across the nation are in discussions regarding joining The Network. A 40-bank working group has been established to help guide The Network to a planned 2022 launch.

About Tassat Group

Tassat® Group Inc. is a technology company that is the leading provider to banks of private blockchain-based, real-time solutions including TassatPay®, which enables banks to provide their customers with instantaneous, secure, real-time payments 24/7/365. Tassat provides an onramp for banks to begin transitioning from legacy technology to blockchain technology that not only will make existing services such as payments more efficient, but also creates opportunities in areas such as smart contracts. Tassat recently was honored with a 2021 Google Cloud Customer Award for innovation in financial services. For more information, visit us at www.tassatpay.com/, on Twitter or on LinkedIn.

About The Digital Interbank Network

The Digital Interbank NetworkTM is the first member bank-owned blockchain-based, real-time payment network for banks. Owned and governed by member banks, The Network enables its members to execute instantaneous, secure, real-time payments and other banking services across banks 24 hours a day and 365 days a year. The Network is a highly secure, private and permissioned blockchain-based payment instruction and settlement platform that is accessible only by member banks. Tassat, The Network’s sponsor, unveiled The Digital Interbank Network with a live demonstration of the first real-time digital payment between two banks using blockchain technology. For more information, visit https://www.interbanknetwork.com/.

About Kevin R. Greene

In addition to his roles at Tassat, Kevin Greene serves as a Managing Partner of James Alpha Management, an investor in Tassat.

Prior to joining James Alpha, Greene served as Chairman and CEO of Capital Resource Holdings, LLC, the holding company parent of CRA RogersCasey, one of the nation’s leading pension consulting firms. He previously founded Bryant Park Capital, a privately held investment bank specializing in private equity financing and mergers and acquisitions for both private and public companies in the U.S. and Europe. Since 1991, Greene has served as the Chairman and CEO of KR Group, an international consulting and investment banking firm, which he founded. His early career included positions as a Senior Consultant with McKinsey & Co., and as a Senior Commodities Analyst with E.F. Hutton.

Greene holds a B.A. degree in Economics (with distinction) from Georgetown University, a master’s degree in Public Policy (Kennedy Scholar) from Harvard University and an MBA in Finance from New York University. Greene is a former Chairman of the Young Presidents’ Organization’s Manhattan chapter, and has served on many public and private boards.

Contacts

Sam Polstein

Tusk Holdings

sam@tuskholdings.com
646.337.1472

Loretta Healy

The Hubbell Group, Inc.

lhealy@hubbellgroup.com
781-718-1117

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