Tassat wants to help smaller banks tap the trillion-dollar stablecoin boom before Wall Street lock them out
CoinDesk 2026-07-23 18:10:02
Context: Tassat, a fintech firm, has launched Project NENYA, a stablecoin reserve management platform aimed at helping regional and midsize U.S. banks compete for stablecoin reserves as the sector is projected to grow into a multi-trillion-dollar market. The platform will create a shared marketplace where regulated stablecoin issuers can allocate reserves across banks and tokenized high-quality liquid assets while monitoring pricing, liquidity, and counterparty risk. This initiative seeks to prevent smaller banks from being shut out of the system as the stablecoin market grows.
Key Facts
- Tassat's Project NENYA platform is designed to connect regulated stablecoin issuers with banks through a shared marketplace for allocating reserves across cash deposits and tokenized high-quality liquid assets.
- The platform, expected to begin pilot activity in early 2027, will allow participating banks to bid for deposits, while issuers can spread reserves across institutions and monitor pricing, liquidity, and counterparty exposure.
- Tassat CEO Glen Sussman argues that concentrating reserves among a few institutions could create liquidity and deposit risks as the stablecoin market grows toward a multi-trillion-dollar scale.
- The stablecoin market is projected to reach roughly $4 trillion by 2030, according to Citi, and Sussman believes that spreading reserves beyond a small circle of large banks is necessary to reduce risks.
- The platform itself will not run on a blockchain, though Tassat plans to connect it with tokenized asset and deposit networks, lowering the technical burden for smaller banks.