Tassat, the fintech firm behind Signature Bank’s former Signet blockchain payments network, is building a stablecoin reserve management platform aimed at helping regional and midsize U.S. banks compete for stablecoin reserves as the sector is projected to grow into a multi-trillion-dollar market.
The company unveiled Project NENYA — otherwise referred to as its Smart Reserve Management & Execution Engine — on Thursday alongside a white paper outlining the initiative. Tassat said it expects the platform to launch in early 2027 after pilot programs begin in the first half of the year.
The project targets smaller banks that often lack the technology, compliance infrastructure and staff needed to service stablecoin issuers.
It is designed to connect regulated stablecoin issuers with banks through a shared marketplace for allocating reserves across cash deposits and tokenized high-quality liquid assets. Participating banks could bid for deposits, while issuers could spread reserves across institutions and monitor pricing, liquidity and counterparty exposure.
“There are banks saying: ‘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,’” Tassat CEO Glen Sussman told CoinDesk in an interview.
