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About Signet Bank

Signet Bank is a retail banking company based out of Baltimore, Maryland.

Signet Bank Headquarter Location

7 St. Paul Street

Baltimore, Maryland, 21203,

United States

Latest Signet Bank News

Signet Bank enables mobile share purchases in Arca US Treasuryu Fund

Mar 19, 2021

External | what does this mean? This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Signet Bank enables mobile share purchases in Arca US Treasuryu Fund 44 minutes ago Source: Arca Arca Labs, the innovation division of Arca, a digital assets investment firm that blends traditional finance with cutting edge blockchain technology, today announced an agreement with Signature Bank (NASDAQ:SBNY) that enables Signature Bank clients with access to the bank’s Signet™ digital payment platform, to initiate purchases of shares of the Arca US Treasury Fund (the “Fund”) from their Signet wallet. This integration is a critical next step in building the digital securities ecosystem. A pioneer in serving the digital assets industry, Signature Bank’s Signet platform is a blockchain-based, real-time payments system that operates 24/7, 365 days a year. Each Signet within the platform is equal to one U.S. dollar. With this new functionality, customers of Signature Bank who have an active Signet account can use the platform to efficiently move U.S. dollars from their Signet account to purchase shares of the Arca US Treasury Fund. This integration, while increasing connectivity for mutual customers of Signature Bank and Arca, also leverages the Signet platform's goals of reducing costs and transaction time for Signature Bank customers. “The pandemic had a dramatic effect on how investors view digital assets, and we need to keep the user experience top of mind in order to drive adoption,” said Jerald David, president of Arca Labs. “We believe that digital securities will eventually replace traditional securities because they're flexible, secure and transparent, and can offer increased utility. This new relationship with Signature Bank is a great example of how integrated financial services are modernizing to serve investors and the ecosystem.” This integration with Signature Bank elevates the user experience by: • Straight Through Processing (STP) from a Signet wallet to the Arca US Treasury Fund; • Shortening the time to process a subscription to the Fund by avoiding the time-inefficient traditional wire/ACH of USD to a custody account • Facilitating delivery of redemption proceeds from the Fund directly to a Signet wallet The relationship with Signature Bank represents another major milestone in Arca Labs’ commitment to pioneering the digital securities space. In keeping with Arca Lab’s commitment to advance the digital securities ecosystem, the company announced it had joined forces with eight custody providers to securely hold ArCoin on behalf of subscribers. This enhancement highlights Arca Lab’s mission of offering investor-grade regulated products while creating a seamless, efficient experience for digital securities. Related Companies

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