NY Regulators Approve First Blockchain Payment System at Major Bank
New York’s Department of Financial Services (NYDFS) recently authorized a blockchain-based digital platform for the regulated exchange of funds. The project – dubbed Signet - will be launched by a fully-regulated New York financial institution, the New York Signature Bank. On December 4, NYDFS Superintendent Maria T. Vullo announced that the Department would allow Signature Bank to offer its own virtual payment platform to clients throughout the state.