Xryma Plc goes live on ECB's T2 real-time gross settlement system
Xryma Plc is now operational on the European Central Bank's (ECB) T2 real-time gross settlement system. This enables near-instantaneous cross-border euro payments for its clients.
Nicosia, Cyprus – September 25, 2026 – Banking technology firm Xryma Plc announced today that it is now fully operational on the European Central Bank's (ECB) T2 real-time gross settlement (RTGS) system. This allows Xryma's clients to conduct cross-border euro payments almost instantaneously, using the company's own BIC code ISEMCY22XXX.
Traditionally, international euro payments could take several business days and pass through multiple correspondent banks within the SWIFT network. The T2 system, managed by the ECB, is designed to significantly speed up the settlement of large euro payments. According to ECB reports, the majority of T2 transactions are settled within seconds, with over 99% completed in under two minutes.
Xryma is among the first non-bank payment service providers (PSPs) to gain direct access to the ECB's T2 system. The company has engineered its technology to utilize two independent routes to the ECB's central banks, optimizing payment performance. This bypasses the delays inherent in traditional SWIFT networks and enhances payment transparency and traceability.
The company's CEO, Nikogiannis (John) Karantzis, described the new connection as a significant milestone. "Our connectivity to the T2 network enhances our payment infrastructure and reinforces our commitment to delivering institutional-grade banking solutions to our clients," Karantzis stated. "Our clients will now benefit from unprecedented speed in their cross-border euro payments."
Xryma has also upgraded its SEPA Instant payment services to utilize the TIPS system, which will further support cross-border and multi-currency operations in the future. The company is also expected to benefit from the ECB's plans to extend the T2 system's operation to a 24/7 model.