T2鈥檚 RTGS platform authorisation granted to ISX Financial
14 October 2025 Cyprus
Image: tanya78/stock.adobe.com
ISX Financial, an European Economic Area (EEA) authorised Electronic Money Institution (EMI), has been authorised by its home regulator, the Central Bank of Cyprus (CBC), to access T2, the Eurosystem's real-time gross settlement (RTGS) platform.
According to the firm, this move puts the company at the forefront of non-bank participants and enables direct communication with Eurosystem's RTGS platform.
It further allows for cross-border payment processing capabilities, independent of the requirement of a sponsor bank, as is typically required by electronic money and payment institutions.
The firm adds that the T2 access allows ISXX to manage its own liquidity pool directly in its central bank accounts, and further enhances ISXX's operations without relying on third-party sponsor banks to manage liquidity movements on its behalf.
T2 access also allows ISXX to control and manage its own SWIFT payments via its own cross-border operations infrastructure.
ISXX will soon be able to send and receive euro payments to and from other directly and indirectly central bank connected financial institutions worldwide, without relying on a sponsor bank's SWIFT or BIC infrastructure.
Direct integration to T2 provides the company with future access to TARGET Instant Payment Settlement (TIPS) cross currency exchange mechanism, allowing it in future to settle instant payments between euro, Danish krone, and Swedish krona directly through the respective central banks rather than via correspondent banks.
TIPS will reduce costs, vastly improve settlement speed, and lower counterparty risk, says the firm.
Nikogiannis Karantzis, CEO of ISXX, comments: "Being a direct T2 RTGS participant results in enhanced credibility and counterparty trust, together with reducing operational risk and extending the range of products we can offer to our customers."
According to the firm, this move puts the company at the forefront of non-bank participants and enables direct communication with Eurosystem's RTGS platform.
It further allows for cross-border payment processing capabilities, independent of the requirement of a sponsor bank, as is typically required by electronic money and payment institutions.
The firm adds that the T2 access allows ISXX to manage its own liquidity pool directly in its central bank accounts, and further enhances ISXX's operations without relying on third-party sponsor banks to manage liquidity movements on its behalf.
T2 access also allows ISXX to control and manage its own SWIFT payments via its own cross-border operations infrastructure.
ISXX will soon be able to send and receive euro payments to and from other directly and indirectly central bank connected financial institutions worldwide, without relying on a sponsor bank's SWIFT or BIC infrastructure.
Direct integration to T2 provides the company with future access to TARGET Instant Payment Settlement (TIPS) cross currency exchange mechanism, allowing it in future to settle instant payments between euro, Danish krone, and Swedish krona directly through the respective central banks rather than via correspondent banks.
TIPS will reduce costs, vastly improve settlement speed, and lower counterparty risk, says the firm.
Nikogiannis Karantzis, CEO of ISXX, comments: "Being a direct T2 RTGS participant results in enhanced credibility and counterparty trust, together with reducing operational risk and extending the range of products we can offer to our customers."
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