Icon Solutions Unveils Framework to Streamline Digital Asset Payments for Banks

Icon Solutions has launched a reference implementation for its Icon Payments Framework (IPF). This demonstrates how banks can use IPF to integrate and manage digital asset payments across any distributed ledger technology (DLT) network. The move comes as demand grows for faster and more efficient payment solutions using digital assets. Banks are increasingly exploring digital assets such as stablecoins, tokenised deposits, and central bank digital currencies (CBDCs). These aim to deliver quicker, cheaper, and more intelligent payment systems. However, many existing vendor solutions restrict flexibility, making it slow, expensive, and risky for banks to adopt DLT-based payments.

IPF addresses these challenges by providing a versatile platform. It connects seamlessly with current core banking systems and payments infrastructure. The framework accelerates DLT payment implementations by up to four times. It also cuts total ownership costs by as much as 50%.

Major banks, including Citi, UBS, NatWest, and BNP Paribas, already use IPF for live DLT-based clearing and settlement. Arjeh van Oijen, Head of Product Management at Icon, notes that banks must move towards a unified payments infrastructure. This should support all payment types without fragmentation.

The new reference implementation highlights IPF’s ability to work across different DLT networks and digital asset types. This reduces complexity and risk for financial institutions. The release of the reference implementation shows how IPF can help banks adopt digital asset payments efficiently. It offers a faster, more cost-effective, and flexible alternative to traditional solutions. The framework is already trusted by some of the world’s largest financial institutions.