With every dollar distributed throughout the Fiserv Deposit Network, INDX will bring additional deposits to Fiserv community bank and credit union clients
Fiserv, Inc., a leading global provider of payments and financial services technology, announced the launch of INDX, a real-time cash settlement platform that helps digital asset companies securely store and transfer US dollars in real-time 24x7x365. With INDX, digital asset companies can leverage a single custodial account that benefits from up to $25 million of FDIC insurance, delivering a safer and more durable solution to store and transfer real USD.
„Rather than routing funds outside of traditional banking systems or pushing funds on-chain, INDX is redefining fiat operations for digital asset companies by distributing their funds across the Fiserv Deposit Network, an ecosystem of more than 1,100 insured US-based financial institutions. This keeps cash securely off-chain while delivering the real-time settlement speed and flexible operating windows demanded by digital asset companies.” – the company explained.
For community banks and credit unions within the Fiserv Deposit Network, diversified deposit sources like those managed by INDX, create a new pipeline of cost-efficient, stable, and granular deposits.
“INDX advances the strategic vision behind bringing StoneCastle into the Fiserv ecosystem, combining our unique position at the intersection of banking and commerce with proven insured-deposit funding solutions to create differentiated value for our clients,” said Takis Georgakopoulos, Co-President at Fiserv. “For the first time, digital asset companies have a settlement engine to move real fiat US dollars in a manner that is faster, more secure, scalable, and fully programmable.”
Designed for the needs of institutional traders, INDX provides digital asset companies with the ability to:
Institutional Grade Accounts: Open a secure and accessible custodial account, from our affiliated US-based trust company.
Faster Transfers: Transact with counterparties in milliseconds, 24x7x365 where every transfer is final and instantly available in USD.
Structurally Safer: Through Fiserv’s deposit network, balances are eligible for up to $25 million of FDIC insurance, which is 100x more than a traditional account.
Fully Programmable: Take advantage of programmability through real-time API access to include institutional grade controls and integrations.
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