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

Icon Solutions has launched a new reference implementation for its Icon Payments Framework (IPF). The tool helps banks integrate and manage digital asset payments across any distributed ledger technology (DLT) network. It connects seamlessly with existing core banking and payments systems. The IPF allows banks to upgrade their payment systems step by step at their own speed. It supports various digital assets, including stablecoins, tokenised deposits, and central bank digital currencies (CBDCs). This flexibility reduces fragmentation risk, as the framework works regardless of the asset type or DLT network in use.

Unlike legacy vendor solutions, IPF avoids lock-in and gives banks full control. It has already been adopted by major institutions like Citi, UBS, NatWest, and BNP Paribas for live DLT-based clearing and settlement. The framework has cut implementation time by four times and lowered ownership costs by up to 50% compared to older systems.

According to Arjeh van Oijen, Head of Product Management at Icon, banks need a unified payments infrastructure capable of handling any payment type. IPF is the only solution that enables rapid, safe, and cost-effective deployment of new services without relying on external providers. The new reference implementation demonstrates IPF’s ability to streamline digital asset payments. Banks can now adopt DLT-based systems more efficiently and at lower cost. The framework’s agility and cost savings are expected to drive wider adoption in the financial sector.