Ten More Banks Join Ripple’s Global Payments Network

16
3415
views

Ripple, the only Blockchain payments provider with proven commercial deployments, announced today the addition of 10 new customers to its growing global network. These financial institutions include MUFG,BBVA, SEB, Akbank, Axis Bank, YES BANK, SBI Remit, Cambridge Global Payments, Star One Credit Union and eZforex.com, representing some of the world’s largest banks, innovative smaller banks and payment service providers (PSPs). These customers have all turned to Ripple as the Blockchain solution that solves the problems of speed, scalability and costs associated with the old way of conducting global payments.

“The world’s largest banks have been the first to adopt Ripple’s technology, and the network effect from our customer base is accelerating,” said Ripple CEO Brad Garlinghouse. “People know Ripple is the only Blockchain solution for payments that is proven in the real world, and it’s driving demand from financial institutions of all kinds and sizes because they want to stay ahead of the curve.”

This new group of customers showcases how Ripple can drastically reduce the time and cost associated with global transactions for a breadth of financial institutions, including the following use cases:

  • BBVA, one of the top 50 largest banks in the world, is using Ripple to enable real-time payments between Europe and Mexico.
  • Digital banking pioneer and one of Turkey’s largest private banks, Akbank, is the first bank in Turkey to adopt Blockchain and is a model for other banks who want to make faster cross-border payments without the need for correspondents.
  • Star One is the first credit union to offer Ripple remittances to customers via eZforex.com, demonstrating how smaller banks can lower costs and achieve much greater reach for their customers.
  • Cambridge Global Payments and Earthport are collaborating with Ripple to improve the customer experience, increase the reach and reduce the cost of real-time cross-border payments.

Today’s news follows last week’s release of Ripple’s Q1 2017 XRP Markets Report highlighting the tremendous growth in adoption of the digital asset XRP with $6.7MM purchased during the quarter. Growing volume for XRP strengthens it as a solution for banks and PSPs interested in lowering liquidity costs for their global payments.

Several of the financial institutions commented on their use of Ripple’s Blockchain network:

Hirofumi Aihara, General Manager, Bank of Tokyo-Mitsubishi UFJ, a member of MUFG:

“We are very pleased to be working with Ripple to provide new types of payments services to change our customers’ experience using the power of the Blockchain technology. To demonstrate our commitment to the technology, we are joining the Japan Bank Consortium to collaborate with other Japanese banks move to commercial use of Ripple’s global network. I do believe we can bring our experience from the Japan Bank Consortium to the Global Payments Steering Group.”

Tolga Ulutaş, Executive Vice President in charge of Akbank Direct Banking:

“We are excited and happy to be the first bank in Turkey to take the important step of using Blockchain technology for international money transfer services. We believe that this new phase in technology will increase speed and transparency for our customers while at the same time reducing costs and providing a higher quality of service.”

 

To learn more about Ripple’s solutions and relevant use cases for financial institutions, please visit Ripple.com.

Ripple provides global financial settlement solutions to ultimately enable the world to exchange value like it already exchanges information – giving rise to an Internet of Value (IoV). Ripple solutions lower the total cost of settlement by enabling banks to transact directly and with real-time certainty, optionally using the digital asset XRP to further reduce liquidity costs. Banks around the world are partnering with Ripple to improve their cross-border payment offerings, and to join its growing, global network of financial institutions and liquidity providers.

Ripple is a venture-backed startup with offices in San Francisco, New York, London, Sydney and Luxembourg. As an industry advocate for the Internet of Value, Ripple sits on the Federal Reserve’s Faster Payments Task Force Steering Committee and co-chairs the W3C’s Web Payments Working Group.

16 COMMENTS

  1. Hey there! Do you know if they make any plugins to help with SEO? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good results. If you know of any please share. Kudos!

  2. Attractive portion of content. I simply stumbled upon your site and in accession capital to claim that I acquire in fact enjoyed account your weblog posts. Anyway I will be subscribing to your feeds or even I success you get admission to constantly quickly.

  3. Hello! I understand this is kind of off-topic but I needed to ask. Does operating a well-established blog like yours require a massive amount work? I’m completely new to writing a blog but I do write in my journal everyday. I’d like to start a blog so I will be able to share my personal experience and views online. Please let me know if you have any kind of recommendations or tips for brand new aspiring bloggers. Appreciate it!

    • Thank you Stock finance. Really appreciate for your kind cooperation. We also expect blogs and articles from your side. Could you please advise your blogs that posted in this site so we can figure out to stop scams and unnecessary comments.

  4. Its like you read my mind! You appear to know so much about this, like you wrote the book in it or something. I think that you could do with some pics to drive the message home a bit, but other than that, this is excellent blog. A great read. I’ll definitely be back.

  5. Hello very cool web site!! Man .. Excellent .. Wonderful ..
    I’ll bookmark your blog and take the feeds additionally?
    I am glad to search out numerous helpful info right here within the put up, we’d
    like work out more strategies on this regard, thanks for sharing.

    . . . . .

LEAVE A REPLY

Please enter your comment!
Please enter your name here