Glasstower Digital & Argent Institutional Trust Services to provide innovative and secure trust and custody services to corporate and institutional users.

GREENWICH, CT, USA, January 17, 2024 /EINPresswire.com/ -- Glasstower Digital Inc., a financial technology company that facilitates cross-border business-to-business remittance payments, today announced an agreement with Argent Institutional Trust Services (AITC), a leading provider of institutional custody services, to provide innovative and secure trust and custody services to corporate and institutional users of Glasstower's payments ecosystem. The agreement combines AITC's expertise in providing best-in-class custody services with Glasstower's first-to-market technology platform.

As global financial markets continue the march toward digitization of assets, the demand for efficient and secure cross-border transactions has never been higher. BNY Mellon’s February 2023 survey found that more than 90% of Glasstower’s target market would adopt a digital solution that reduces the high fees and delayed settlements inherent in many cross-border transactions. To this end, Glasstower has built a blockchain-backed technology for FX providers to facilitate such rapid and low-fee cross-border B2B payments.

"The Argent collaboration will provide users of the Glasstower platform with security, integrity, and a high-yielding, low-cost FX tech solution,” said Keith Styrcula, founder and CEO of Glasstower Digital. “Glasstower is exceptionally well-positioned to empower forward-thinking corporate and institutional treasuries and Treasury Management Software (TMS) providers with a category-transforming cross-border payments solution.”

Steven B Eason, CEO of Argent Institutional Trust Company commented, “Our affiliation with Glasstower precisely represents the kind of creative industry thinking that AITC pursues in an effort to bring efficiency to bear on existing processes. AITC is excited to be taking on the active custodial role in this innovative B2B cross-border remittance payments structure.” Eason added, “We are honored that Glasstower chose to work with AITC recognizing our creative problem solving, experience, and market connectivity.”

With the volume of cross-border payments globally already at $190 trillion in 2023 and further expected to rise to $290 trillion in 2030,, the Glasstower solution comes at an opportune time in the digital asset revolution. "With our consortium of global financial institutions in place, Glasstower is well-positioned to increase efficiency and improve costs in cross-border payments for FX providers, corporate treasury managers and global institutions of every size," Styrcula added.
Glasstower is set to beta launch the ecosystem with a select group of partners starting in the first quarter of 2024.

About Glasstower

With a consortium of nearly twenty global partners and advisors, Glasstower Digital Inc is a first-of-its-kind fintech technology platform that allows money-markets-fund-backed cross-border B2B payments. Glasstower users can affect FX transmittals at a fraction of the cost and a fraction of the time it typically takes for funds to clear. Users of Glasstower's B2B FX tech solution are multi-national corporations, CFOs, treasury managers, international charities, global professional services firms and financial institutions. The company is headquartered in Greenwich, Connecticut.

About Argent Institutional Trust Company (AITC)

AITC was founded as TMI Trust Company in 1954 as a Texas chartered trust company. In September 2023, TMI Trust Company merged with Argent Financial Group and is headquartered in Tampa, FL as Argent Institutional Trust Company, a Florida trust company. Since its inception, AITC has grown into a full-service provider of trust and agency services. Through its offices located in Tampa (FL), Atlanta (GA), Fort Worth (TX), Milwaukee (WI) and New York City (NY) AITC delivers exceptional client care across four primary service categories: trustee, escrow, and loan agency; IRA and custody; family office and investment partnerships; and specialized trust services. For more information, visit www.argentfinancial.com/AITC.

About Argent Financial Group

Argent Financial Group (Argent) is a leading, independent client asset services firm offering individuals, families, businesses, and institutions wealth management, asset management, and asset servicing. The firm is responsible for more than $65 billion in client assets. Formed in 1990 in Ruston, Louisiana, Argent can trace its roots back to 1930. For more information, visit www.argentfinancial.com

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