Xryma Gains Direct Access to ECB T2 Network for Near-Instant Payments

Traditional SWIFT-based transfers often involve multiple intermediary banks, resulting in settlement times of three to five business days. By connecting directly to the T2 system under its own BIC, ISEMCY22XXX, Xryma has eliminated these intermediate hops. According to recent ECB data, the T2 network processes the vast majority of transactions in under two minutes, providing a robust alternative to legacy rails.

Xryma’s architecture utilizes a load-balancing strategy across the Bank of Lithuania and the Bank of Latvia, rather than relying on a single path. This technical configuration allows for greater resilience and efficiency. For customers of the group’s ISX Money and flykk platforms, this infrastructure change translates into faster, more transparent payment flows with reduced compliance friction, as regulatory screenings are now confined to the sending and receiving institutions.

Group CEO Nikogiannis Karantzis noted that the integration serves as a critical milestone in the firm's evolution. With the ECB planning to transition T2 to 24/7 operations, Xryma is positioned to scale its reach across more than 950 direct participant banks and over 22,500 indirect participants globally. The company, which also holds EMI authorizations in the EU and UK, is concurrently upgrading its SEPA instant services to the TIPS platform to further broaden its multi-currency capabilities.