Crypto▲ Bullish
Tassat Builds Platform for Smaller Banks in Stablecoin Boom
Tassat's Project NENYA lets regional banks bid for stablecoin reserves as Citi sees $4T market by 2030, addressing concentration risk. Pilot H1 2026.
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Tassat, the fintech firm that built Signature Bank's Signet network, unveiled Project NENYA on Thursday. The platform is designed to help regional and midsize U.S. banks compete for stablecoin reserves. Tassat expects to launch it in early 2027 after pilot programs begin in the first half of 2026.
Smaller banks often lack the technology and compliance infrastructure needed to service stablecoin issuers. The platform connects regulated issuers with banks through a shared marketplace. Banks can bid for deposits. Issuers can spread reserves across institutions and monitor pricing and counterparty exposure.
Sussman said banks have told him: "We would love to participate in this. We don't have the infrastructure. We don't have the compliance. We wouldn't even know how to price these reserve deposits."
The announcement followed the passage of the GENIUS Act and a broader push by Wall Street into stablecoins. Goldman CEO backed the CLARITY Act as banks fight stablecoin rewards. Citi projects the stablecoin market could reach roughly $4 trillion by 2030.