Xryma Plc starts operations on ECB's T2 Real-Time Gross Settlement network
Xryma Plc, a regulated financial technology group offering cross-border open banking and real-time payment services in the EU and UK, has begun operating within the European Central Bank’s (ECB) T2 RTGS system. This enables near-instant settlement of euro payments across borders instead of taking several business days as with traditional SWIFT transfers. The ECB's TARGET2 Real-Time Gross Settlement network is a core infrastructure for large-value euro transactions, ensuring secure and stable processing in central bank money. Xryma’s integration into T2 allows its customers to execute cross-border euro payments almost instantly using the company’s own BIC code ISEMCY22XXX. As one of the first non-bank payment service providers with direct access to ECB's T2 network, Xryma has developed a robust infrastructure combining fintech agility and banking-grade security. The move is expected to significantly reduce compliance burdens for clients while improving transparency and efficiency in cross-border transactions.
Topics: open_banking real-time_payments RTGS T2_network