TassatPay, a blockchain payment solution implemented by six US banks, has passed the $1 trillion transaction mark, with $150 billion processed in January alone.

The solution was launched in 2019 and allows to tokenize bank balances, supporting 24/7 real-time payments between customers of the same bank. Last year it also launched the Digital Interbank Network with the participation of three existing clients: Cogent, Customers and Western Alliance. All TassatPay customers are FDIC insured.

Signature Bank has grabbed the headlines of the six banks that use TassatPay because their crypto clients use the permissioned blockchain. During a recent earnings call, Signature shared details about its Tassat-powered Signet network.

Signature said that crypto clients do most transactions in terms of dollar value, but cargo shipping comes first for the number of transactions on the blockchain network. Shipments can typically arrive outside of banking hours and the ability to make an instant payment allows for freight release. Payroll companies rank third in transaction volume.

TassatPay says it has developed more than 20 use cases. In addition to logistics, these include mortgage storage, commercial construction, and private equity capital calls.

Other US-based blockchain payments networks include JPMorgan’s JPM Coin and USDF Consortium. USDF was founded by community banking group JAM FINTOP and Figure Technologies and has nine member banks.

JP Morgan also backed Singapore-based Partior, a multi-currency interbank payments network based on commercial bank money.