Xryma Plc Launches Operations on ECB's T2 Real-Time Settlement Network

A Milestone in Cross-Border Payments

On September 23, 2026, Xryma Plc, a prominent banktech group specializing in cross-border open banking and transactional banking services, announced its active operations on the European Central Bank's (ECB) T2 Real-Time Gross Settlement (RTGS) network. This new capability allows clients to conduct cross-border euro payments almost instantaneously, showcasing a significant leap forward in financial technology.

With Xryma employing its unique BIC code ISEMCY22XXX, global euro transfers are now achieved in seconds rather than days. This enhancement is already benefiting clients of ISX Money and will soon extend to flykk® users as well.

The Efficiency of T2

The T2 system forms the backbone of ECB's payment operations for high-value euro transactions, providing credibility and stability to the payment ecosystem. Unlike traditional correspondent banking, where SWIFT transfers can take three to five business days and involve several intermediary banks, T2 enables nearly real-time settlements. According to the ECB’s 2023 Annual Report, an impressive 90% of transactions were settled in under 38 seconds, with 99.73% completing in under two minutes by the 2024 report.

As one of the initial non-bank Payment Service Providers (PSPs) to gain direct access to the T2 network, Xryma has built a comprehensive banking tech model that blends fintech agility with strong banking-level infrastructure. By early adoption of SEPA Instant, Xryma engineered a solution that efficiently balances traffic across two central banks—the Bank of Lithuania and the Bank of Latvia—moving away from the conventional single-route model.

Transforming Business Payments

Xryma’s business model is centered on ensuring that companies can transfer funds swiftly across borders. By eliminating the multiple bank hops common in SWIFT networks, customers can now settle most euro transactions using central bank money within an average of just 40 seconds on any business day. This remarkable improvement contrasts sharply with the usual three to five day timelines of traditional payment systems, thus providing clients with faster, more transparent, traceable, and resilient payment flows.

Moreover, the compliance-related frictions are notably reduced. While SWIFT transactions necessitate independent compliance checks at every correspondent hop, the T2 RTGS system confines these verifications to the issuing and receiving institutions without compromising regulatory oversight.

24/7 Operations Coming Soon

The ECB has lofty plans to transition T2 to a 24/7 operating regime, promising to further enhance Xryma’s capacity to deliver nearly instantaneous euro settlements to clients interacting with more than 950 participating banks across the EU, as well as ensuring rapid settlements for over 22,500 indirect participating banks worldwide.

Xryma is concurrently modernizing its instantaneous SEPA services to TIPS, an upgrade that will soon be applicable to cross-border and multi-currency services.

Leadership Perspectives

John Nikogiannis, the CEO of Xryma Plc, expressed his enthusiasm about this latest development, stating, "The commercial launch on the ECB T2 RTGS network marks another significant milestone in Xryma’s evolution as a banking technology group. The connectivity through our BIC code strengthens our payment infrastructure, enhances our ability to provide faster, more efficient cross-border euro payments, and solidifies our commitment to delivering institutional-grade banking solutions to our clients."

He further remarked, "Just as SEPA Instant transformed domestic payments within the EEA, the advent of the T2 RTGS will revolutionize international euro transfers. Xryma Plc can now deliver high-value, low-friction cross-border payments at speeds previously deemed impossible."

As Europe’s payment ecosystem continues to evolve, PSPs that adeptly combine fintech agility with reliable settlement infrastructure like T2 are poised to lead the next wave of digital payment transformation.

About Xryma Plc

Xryma Plc is a regulated European banking technology group that develops banking technology through its subsidiary, Probanx®, and operates digital payment services backed by direct central bank settlement. Xryma is one of the first non-bank participants authorized to connect directly to the Eurosystem’s RTGS and TIPS platforms. It holds Electronic Money Institution (EMI) licenses across both the EU and the UK, offering multi-currency corporate accounts. Its open banking service, PaidBy®, features one of the first cross-border, account-to-account, and dynamic currency conversion services for merchants, providing instant local payments and next-day settlement in both major and exotic currencies.