Global cross-border euro payments now settled in seconds, not days
NICOSIA, Cyprus, Sept. 23, 2026 /PRNewswire/ -- Xryma Plc ("Xryma"), a banktech group providing regulated cross-border open banking, international transactional banking and real-time EU and UK payment services, whilst also independently offering banking software and technology to third party banks and financial institutions, is pleased to announce that it is now live and actively transacting on the European Central Bank's (ECB) T2 Real-Time Gross Settlement (RTGS) network, enabling near-instant cross-border euro payments for its customers under its own BIC ISEMCY22XXX.
Global transfers of EURO currency are now available to customers of Xryma's ISX Money, and shortly also to flykk customers.
T2 is the Eurosystem's RTGS system, the backbone of large-value euro payment settlement operated by the ECB, bringing credibility and stability to the payments' ecosystem, guaranteeing secure settlement in central bank money. T2 RTGS represents a fundamental advance over traditional correspondent banking; where SWIFT-based transfers typically take three to five business days and pass through multiple intermediary banks, T2 settles euro transactions in near real-time. According to the ECB's TARGET Services Annual Report 2023, 90% of transactions were settled within 38 seconds, whereas 0.09% took more than five minutes. The ECB's 2024 Annual Report confirmed that 99.73% of T2 payments were processed in less than two minutes.
Being one of the first non-bank payment service providers (PSPs) to gain direct access to the Eurosystem's T2 network, Xryma has built a comprehensive banktech model, combining fintech agility with bank-grade deep infrastructure. As an early adopter of SEPA Instant, Xryma architected a solution that load balances its traffic via two central banks (via Bank of Lithuania and Bank of Latvia), moving away from the conventional single path solution. This means that Xryma manages its traffic into T2 via independent pathways to optimise volume flow.
Xryma's business model is built around helping businesses move money rapidly across borders. By removing the multi-bank "hop" inherent to SWIFT correspondent networks, Xryma's customers can now settle most euro transactions in central bank money within 40 seconds on any business day, an impressive improvement on the three to five business days typical of legacy payment rails, thus offering customers faster, more transparent, traceable and more resilient payment flows.
Compliance friction is also materially reduced. SWIFT transfers require a separate compliance check at each correspondent hop; T2 RTGS limits checks to the sending and receiving institutions without any reduction in screening and oversight, streamlining the process while maintaining regulatory standards.
The ECB has announced plans to extend T2 to 24/7 operations, which will further expand Xryma's capability to offer near-instant euro settlement to customers transacting with more than 950 direct participant banks across the EU, and rapid settlement to more than 22,500 indirect participant banks worldwide.
Xryma has also upgraded its SEPA instant services to TIPS, which will extend into cross-border and multi-currency services in the near future.
Nikogiannis (John) Karantzis, Group Chief Executive Officer and Managing Director of Xryma Plc, commented:
"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 benefits to our customers are tangible and immediate. Just as SEPA Instant transformed domestic payments within the EEA, the forthcoming 24/7 T2 RTGS network will do the same for international euro transfers. Xryma Plc can now offer our customers high-value, low-friction cross-border payments at a speed that simply was not possible before."
As Europe's payments ecosystem continues to evolve, PSPs that successfully and seamlessly combine fintech agility with direct access to trusted settlement infrastructures such as T2, will be best positioned to lead the next phase of digital payment transformation.
About Xryma Plc
Xryma Plc is a regulated European banktech group that develops banking technology via its Probanx subsidiary and operates digital payment services underpinned by direct central-bank settlement. Xryma is one of the first non-bank participants authorised to connect directly to the Eurosystem's T2 RTGS and TIPS platforms. The company holds Electronic Money Institution (EMI) authorisations in both the EU and the UK and offers multi-currency corporate accounts. Its open-banking service, PaidBy, delivers one of the world's first cross-border, account-to-account, dynamic-currency-converting service for merchants, with instant local payments and next-business-day settlement in major and exotic currencies.
Media Contact: media@xryma.com
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