Xryma goes live on ECB’s T2 settlement network
24 September 2026 Cyprus
Image: Viriyastock88/stock.adobe.com
Xryma has gone live on the European Central Bank’s (ECB) T2 real-time gross settlement (RTGS) network, enabling it to settle euro payments directly in central bank money.
The banktech provider said the move will support near-instant cross-border euro payments for customers under its own BIC, ISEMCY22XXX.
T2 is the Eurosystem’s RTGS system for the settlement of large-value euro payments and forms part of the ECB’s TARGET Services infrastructure.
According to the ECB’s TARGET Services Annual Report 2023, 90 per cent of transactions on the system were settled within 38 seconds, while its 2024 Annual Report found that 99.73 per cent of T2 payments were processed in less than two minutes.
Xryma said direct access to T2 will allow it to reduce its reliance on correspondent banking chains, where payments can pass through several intermediary institutions before reaching the receiving bank.
The firm is also using two central bank routes, via the Bank of Lithuania and the Bank of Latvia, to manage traffic into T2 and distribute payment flows across separate pathways.
Xryma said the structure is designed to improve resilience and support higher transaction volumes.
The company added that direct settlement through T2 can also reduce the number of compliance checks associated with intermediary correspondent banks, while maintaining screening at the sending and receiving institutions.
Nikogiannis (John) Karantzis, group CEO and managing director of Xryma, says: “Going commercially live on the ECB's T2 RTGS network marks another significant milestone in Xryma's evolution as a banktech group.
“ECB T2 network connectivity through our own BIC strengthens our payments infrastructure, enhances our ability to deliver faster and more efficient cross-border euro payments, and reinforces our commitment to providing institutional-grade banking solutions to our customers.”
The banktech provider said the move will support near-instant cross-border euro payments for customers under its own BIC, ISEMCY22XXX.
T2 is the Eurosystem’s RTGS system for the settlement of large-value euro payments and forms part of the ECB’s TARGET Services infrastructure.
According to the ECB’s TARGET Services Annual Report 2023, 90 per cent of transactions on the system were settled within 38 seconds, while its 2024 Annual Report found that 99.73 per cent of T2 payments were processed in less than two minutes.
Xryma said direct access to T2 will allow it to reduce its reliance on correspondent banking chains, where payments can pass through several intermediary institutions before reaching the receiving bank.
The firm is also using two central bank routes, via the Bank of Lithuania and the Bank of Latvia, to manage traffic into T2 and distribute payment flows across separate pathways.
Xryma said the structure is designed to improve resilience and support higher transaction volumes.
The company added that direct settlement through T2 can also reduce the number of compliance checks associated with intermediary correspondent banks, while maintaining screening at the sending and receiving institutions.
Nikogiannis (John) Karantzis, group CEO and managing director of Xryma, says: “Going commercially live on the ECB's T2 RTGS network marks another significant milestone in Xryma's evolution as a banktech group.
“ECB T2 network connectivity through our own BIC strengthens our payments infrastructure, enhances our ability to deliver faster and more efficient cross-border euro payments, and reinforces our commitment to providing institutional-grade banking solutions to our customers.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
