Northern Trust Appointed as Global Custodian and Cash Manager by Haycen
Northern Trust (NTRS) has been selected by Haycen Bermuda to provide global custody and money market fund services. Haycen, a trade finance digital payments provider operating in the UK and Europe, offers wholesale stablecoin-based solutions for non-bank lenders in global trade.
Under the new mandate, Northern Trust Asset Servicing will handle global custody services for Haycen's client fiat deposits, while Northern Trust Asset Management will provide cash sweep services. Haycen's platform enables increased USD availability in digital format with instant settlement capabilities, reducing friction in cross-border liquidity transfers.
The collaboration follows a year of partnership in developing the operating model for Haycen's stablecoin ecosystem, which offers fully collateralized single currency pegged stablecoins in multiple currencies.
Northern Trust (NTRS) è stata selezionata da Haycen Bermuda per fornire servizi di custodia globale e fondi del mercato monetario. Haycen, un fornitore di pagamenti digitali per il commercio, opera nel Regno Unito e in Europa, offrendo soluzioni basate su stablecoin per prestatori non bancari nel commercio globale.
Con il nuovo mandato, Northern Trust Asset Servicing gestirà i servizi di custodia globale per i depositi in fiat dei clienti di Haycen, mentre Northern Trust Asset Management fornirà servizi di cash sweep. La piattaforma di Haycen consente una maggiore disponibilità di USD in formato digitale con capacità di regolamento istantaneo, riducendo le frizioni nei trasferimenti di liquidità transfrontalieri.
Questa collaborazione segue un anno di partnership nello sviluppo del modello operativo per l'ecosistema di stablecoin di Haycen, che offre stablecoin completamente collateralizzate ancorate a una singola valuta in diverse valute.
Northern Trust (NTRS) ha sido seleccionada por Haycen Bermuda para proporcionar servicios de custodia global y fondos del mercado monetario. Haycen, un proveedor de pagos digitales para comercio, opera en el Reino Unido y Europa, ofreciendo soluciones basadas en stablecoin para prestamistas no bancarios en el comercio global.
Bajo el nuevo mandato, Northern Trust Asset Servicing manejará los servicios de custodia global para los depósitos en fiat de los clientes de Haycen, mientras que Northern Trust Asset Management proporcionará servicios de cash sweep. La plataforma de Haycen permite una mayor disponibilidad de USD en formato digital con capacidades de liquidación instantánea, reduciendo la fricción en las transferencias de liquidez transfronterizas.
Esta colaboración sigue a un año de asociación en el desarrollo del modelo operativo para el ecosistema de stablecoin de Haycen, que ofrece stablecoins completamente colateralizadas vinculadas a una sola moneda en múltiples monedas.
노던 트러스트 (NTRS)가 헤이센 버뮤다에 의해 글로벌 수탁 및 머니 마켓 펀드 서비스를 제공하기 위해 선택되었습니다. 헤이센은 영국과 유럽에서 운영되는 무역 금융 디지털 결제 제공업체로, 글로벌 무역에서 비은행 대출자를 위한 스테이블코인 기반의 도매 솔루션을 제공합니다.
새로운 위임에 따라, 노던 트러스트 자산 서비스는 헤이센 고객의 법정 화폐 예치금에 대한 글로벌 수탁 서비스를 처리하고, 노던 트러스트 자산 관리는 현금 스윕 서비스를 제공합니다. 헤이센의 플랫폼은 즉각적인 결제 기능을 갖춘 디지털 형식으로 USD의 가용성을 증가시켜, 국경 간 유동성 이전의 마찰을 줄입니다.
이 협력은 헤이센의 스테이블코인 생태계 운영 모델을 개발하기 위한 파트너십 1년 후에 이루어졌으며, 이는 여러 통화에서 완전 담보화된 단일 통화 고정 스테이블코인을 제공합니다.
Northern Trust (NTRS) a été sélectionnée par Haycen Bermuda pour fournir des services de garde globale et de fonds du marché monétaire. Haycen, un fournisseur de paiements numériques pour le financement commercial, opère au Royaume-Uni et en Europe, offrant des solutions basées sur des stablecoins pour les prêteurs non bancaires dans le commerce mondial.
Dans le cadre du nouveau mandat, Northern Trust Asset Servicing s'occupera des services de garde globale pour les dépôts en fiat des clients de Haycen, tandis que Northern Trust Asset Management fournira des services de cash sweep. La plateforme de Haycen permet une disponibilité accrue de l'USD au format numérique avec des capacités de règlement instantané, réduisant les frictions dans les transferts de liquidité transfrontaliers.
Cette collaboration fait suite à une année de partenariat pour développer le modèle opérationnel de l'écosystème stablecoin de Haycen, qui propose des stablecoins entièrement garantis indexés sur une seule monnaie dans plusieurs devises.
Northern Trust (NTRS) wurde von Haycen Bermuda ausgewählt, um globale Verwahrungs- und Geldmarktfonds-Dienstleistungen anzubieten. Haycen, ein Anbieter von digitalen Zahlungsdiensten im Handelsfinanzierungsbereich, ist im Vereinigten Königreich und in Europa tätig und bietet stabilecoin-basierte Lösungen für nicht-banken Kreditgeber im globalen Handel an.
Im Rahmen des neuen Mandats wird Northern Trust Asset Servicing die globalen Verwahrungsdienste für die Fiat-Einlagen von Haycens Kunden übernehmen, während Northern Trust Asset Management Cash-Sweep-Dienste bereitstellt. Die Plattform von Haycen ermöglicht eine erhöhte Verfügbarkeit von USD in digitaler Form mit sofortigen Abwicklungsmöglichkeiten, wodurch Reibungen bei grenzüberschreitenden Liquiditätsübertragungen reduziert werden.
Die Zusammenarbeit folgt einem Jahr der Partnerschaft zur Entwicklung des Betriebsmodells für Haycens Stablecoin-Ökosystem, das vollständig besicherte, an eine einzelne Währung gebundene Stablecoins in mehreren Währungen anbietet.
- New business acquisition in digital assets and stablecoin custody services
- Strategic expansion into emerging fintech market
- Partnership with innovative digital payments provider enhances service offering
- None.
Haycen delivers wholesale stablecoin-based solutions for non-bank lenders in global trade. Haycen offers global trade participants increased availability to USD in a digital format alongside an instant settlement capability, reducing the traditional friction associated with cross-border liquidity transfers. Haycen provides fully collateralized single currency pegged stablecoins in multiple currencies, seeking to reward its clients for maintaining their funds in Haycen’s digital payment ecosystem.
Under the new mandate, Northern Trust Asset Servicing will provide Haycen with global custody services for its client fiat deposits. Northern Trust Asset Management will provide cash sweep services.
Ian Hamilton, head of Asset Owners Europe, Asset Servicing at Northern Trust, said: “At Northern Trust, we offer clients the strength and stability of our custody business combined with an innovative approach to the future of the industry. Haycen recognized this value and selected us to help support their investment objectives. By pairing our client-focused approach with close collaboration with our Northern Trust Asset Management partners, we provide a seamless service experience that helps our clients succeed. We're excited to bring this to our relationship with Haycen.”
Luke Sully, Founder & CEO of Haycen, said: “We have been working with the team at Northern Trust for a year to develop and refine the operating model needed to deliver a high quality stablecoin for global markets. This is a key moment in the evolution of new digital-first financial services and represents a step forward for our stablecoin businesses to be trusted with advancing global commerce. Northern Trust took the time to understand our unique requirements in order to provide us with the best experience for our unique ecosystem. With their reputation as a trusted industry leader and innovator, Northern Trust adds a layer of expertise we need, and we're eager to embark on this journey together.”
About Haycen
Haycen Bermuda Ltd delivers stablecoins and payment solutions to SMEs, corporate clients and financial intermediaries, focusing on global trade. The Haycen senior management team consists of former executives and technologists from Goldman Sachs, IBM, JP Morgan and Barclays who have founded multiple Fintech projects. Haycen is headquartered in
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in
Northern Trust Corporation, Head Office: 50 South La Salle Street,
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Media Contacts
Camilla Greene
+44 (0) 20 7982 2176
Camilla_Greene@ntrs.com
Simon Ansell
+ 44 (0) 20 7982 1016
Simon_Ansell@ntrs.com
US &
John O’Connell
+1 312 444 2388
John_O’Connell@ntrs.com
Source: Northern Trust Corporation
FAQ
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