Tassat Group, Inc. today announced Project NENYA (Smart Reserve Management & Execution Engine), a new industry initiative focused on reserve optimization infrastructure for regulated stablecoins. Tassat released a white paper detailing the initiative in conjunction with the announcement.
As stablecoins move further into the financial mainstream, reserve management is becoming an increasingly important operational, regulatory, and strategic consideration for issuers, banks and regulators. The GENIUS Act marked a structural inflection point for the ecosystem by introducing tighter reserve segregation, and oversight requirements, while ongoing CLARITY Act developments have sharpened the focus on how banks and issuers may participate. Tassat recognizes the next phase of the market will require infrastructure that improves transparency, coordination, and operational efficiency while fitting within existing compliance, treasury, and risk frameworks.
Project NENYA connects regulated stablecoin issuers and banks through a unique platform designed to facilitate reserve distribution and optimization across cash deposits and tokenized HQLA (High Quality Liquid Assets), enabling counterparty risk mitigation and real-time reserve visibility as stablecoin ecosystems scale. The Project NENYA white paper examines the evolving regulatory and economic impacts of stablecoin adoption, and outlines a new framework for equitable, transparent, and efficient reserve distribution across U.S. depository institutions, addressing emerging liquidity constraints within the ecosystem.
For stablecoin issuers, Project NENYA will deliver a unified reserve optimization and intelligence platform that strengthens resilience, improves reserve economics, and supports scalable growth under GENIUS-style requirements. For banks, particularly regional and mid-sized institutions, it will enable safer, broader participation in the stablecoin economy while countering the threat of deposit flight. For regulators and the wider ecosystem, it will serve as a coordination layer that reduces friction, discourages opaque reserve practices, and improves visibility into reserve distribution, concentration, and liquidity dynamics across issuers and their bank counterparties.
“The rapid growth of stablecoin economies is creating a new set of infrastructure requirements for issuers and banks,” said Glen Sussman, Chief Executive Officer of Tassat. “With Project NENYA, we are delivering solutions banks and issuers will need as reserve optimization becomes an increasingly critical aspect of the fundamental market structure. We are inviting banks and stablecoin issuers to join this new initiative to help ensure that stablecoins can achieve their full potential while maintaining a healthy and resilient balance with U.S. depository institutions.”
“The future of stablecoins cannot be built on fragmented relationships and opaque reserve management practices; it requires a transparent, efficient, and interconnected ecosystem that enables issuers and banks to operate with confidence at scale,” said Glendy Kam, Chief Product Officer at Tassat. “Project NENYA creates a compliance-first marketplace where issuers and banks can discover pricing, manage risk, and optimize reserve allocation through a single connected network. By linking counterparties across cash and HQLA reserves, NENYA enhances liquidity throughout the ecosystem while providing the visibility, governance, and trust required by regulators and market participants alike. We believe this combination of transparency, connectivity, and regulatory alignment will be essential to unlocking the next phase of stablecoin growth.”
Tassat is developing Project NENYA in collaboration with a growing group of prospective banking and issuer partners and welcomes participation from regulated institutions and regulators in shaping the platform roadmap. The initiative builds on Tassat’s track record in creating foundational digital asset infrastructure. Since 2019, the company has built, operated, and scaled production-grade platforms including SIGNET/CBIT, early tokenized deposit and payment networks; DIBN, the Digital Interbank Network; and Lynq, the real-time settlement and collateral network developed with Arca Labs and tZERO.
Tassat expects Project NENYA to go live in early 2027 and looks forward to engaging with banks, issuers, and other stakeholders as that effort takes shape.
About Tassat Group
Tassat Group, Inc. delivers institutional-grade blockchain solutions that enable regulated partners to transact in real time with greater efficiency, speed, and transparency. Having settled more than $2.5 trillion to date, Tassat’s infrastructure operates within regulatory perimeters across global markets, supporting instantaneous transaction and settlement capabilities across financial services, digital assets, healthcare, and construction. Tassat was honored with a 2021 Google Cloud Customer Award for Financial Services Innovation and named U.S. FinTech Award winner for Payments Technology in 2023.
Learn more at www.tassat.com, on X, or LinkedIn.
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