Icon's New Framework Speeds Up Digital Asset Payments for Banks

Icon Solutions has launched a reference implementation for its Icon Payments Framework (IPF). The new tool helps banks integrate digital asset payments across any distributed ledger technology (DLT) network. Major financial institutions already trust the framework for live clearing and settlement operations. The reference implementation demonstrates how banks can use IPF to manage digital asset payments efficiently. It supports stablecoins, tokenised deposits, deposit tokens, and central bank digital currencies (CBDCs). These assets aim to make payments faster, cheaper, and more flexible.

IPF stands out by working with any digital asset and DLT network, reducing fragmentation as adoption grows. It speeds up DLT-based payment implementation by up to four times and cuts total ownership costs by up to 50%. The framework also connects smoothly with existing core banking systems and payments infrastructure.

Arjeh van Oijen, Head of Product Management at Icon, noted that banks need a unified payments infrastructure. He emphasised that IPF is the only solution offering the flexibility to launch new digital asset services quickly, safely, and without external vendor dependencies. Legacy vendor solutions, in contrast, restrict choice and create slow, expensive, and risky processes. IPF is already in use by leading banks like Citi, UBS, NatWest, and BNP Paribas. Its ability to integrate with current systems and reduce costs could accelerate the adoption of DLT-based payments. Banks using the framework gain a way to deploy digital asset services without relying on external providers.