Real-time, instant business-to-business (B2B) payments.
Customers Bank Instant Token (CBIT™)
Customers Bank offers instant payments for B2B transactions, including instant settlement for crypto trading firms, exchanges, OTC desks, liquidity providers, market makers, and institutional investors through the TassatPay™ platform.
Our instant payments solution offers an alternative to legacy payment and settlement rails by providing the fast and secure transfer of funds to other CBIT™ clients 24 hours a day, 7 days a week, 365 days a year.
Explore our Instant Payment Solution
Instantaneous
B2B payments to your partners are processed immediately.
- Control working capital
- Reduce settlement delays and counterparty risks
24/7/365
Make and receive payments anytime, any day, year-round.
- Facilitate USD payments without time-zone restrictions
Connected
Add partners to the platform & facilitate payments with them.
- Optimize platform ecosystem
- Improve liquidity
Blockchain powered
Powered by private blockchain technology.
- Tokenized transactions
- Safe and secure transactions
24/7 servicing
CBIT™ is always on, we’re there for you. We provide 24/7 servicing for you and your team.
CBIT™ Concierge
One-on-one support to get you started or to navigate the platform – adding partners, making transactions or troubleshooting.
How it works
Deposit Funds into Checking
Customers Bank business client (Sender) deposits funds into its CBIT™ Business Checking Account.
Transfer Funds into Wallet
Sender transfers funds from CBIT™ Business Checking Account into its platform wallet. The funds are converted to CBIT™ tokens in the wallet; the dollar equivalent is held on a 1:1 USD to CBIT™ ratio.
Sender’s CBIT™ Wallet
Send Payment
Sender sends CBIT™ tokens from its wallet to the wallet of its partner, the Receiver’s wallet.
Receiver’s CBIT™ Wallet
Transfer Funds into Checking
The Receiver can leave the tokens in its wallet, or it can redeem them into its CBIT™ Business Checking Account. When redeeming into the CBIT™ Business Checking Account, the CBIT™ tokens are withdrawn from its wallet, and the dollar equivalent is transferred into the CBIT™ Business Checking Account.
Withdraw Funds from Checking
The Receiver can leave the funds in the CBIT™ Business Checking Account, or it can withdraw them per standard processes.
Frequently asked questions
You must be a Customers Bank client and onboarded on the platform. The partners you want to transact with on the platform must also be Customers Bank clients and onboarded on the platform.
In order to use the CBIT™ platform, the customer must open a non-interest-bearing CBIT™ Business Checking Account with Customers Bank to fund the wallet.
There are no fees to enroll in CBIT™; there are also no fees for the transactions made on the platform.
When customers transfer funds to their wallet from their checking account, the funds are automatically converted to Tokens held in the wallet and equivalent to USD at 1:1 conversion rate.
The CBIT™ service is available via the UI (User Interface) or through API (Application Programming Interface).
You must both be Customers Bank clients and onboarded on the platform. The partners with which you want to transact on this platform must also be Customers Bank clients.
Customers Bank provides 24/7 servicing for clients using the platform.
Customers can obtain real time reporting of all the transactions in the platform.
In the platform, customers can fund wallet from their bank account, send funds to a partner’s wallet, and transfer funds from the wallet to the bank account.
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