Ten More Banks Join Ripple’s Global Payments Network

6418
ADVERTISEMENTSBlockchain Expo
Sportsfix ICO

Share with:


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.

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), partner at ICO services collective CryptoAsset Design Group ($500m+ and 50+ ICOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur.

He sits on the advisory boards of some two dozen Blockchain startups
and has written over 1500 articles on Blockchain technology and
startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat

Ad honorem - Honorary Ph.d - Chair Professor of Blockchain at
China's first Blockchain University in Nanchang at the Jiangxi Ahead
Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business
Automation 4.0 programme. Chevalier (Knight) - Ordre des Arts et des
Technologies at Crypto Chain University and on advisory board of Advisory Board Member of International Decentralized Association Of Cryptocurrency And Blockchain (IDABC) as well as Advisory Board Member at U.S. Blockchain Association.

Over a half a decade experience judging and rewarding some 1000+
innovation projects as an EU expert for the European Commission's SME
Instrument programme as a startup assessor and as a startup judge for
the UK government's Innovate UK division. Kastelein has spoken
(keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, San Mateo, San Francisco, Santa Clara, Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich

His network is global and extensive. He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe

He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.

A journalist by trade, an entrepreneur and adventurer at heart,
Kastelein's professional career has ranged from political publishing to
TV technology, boatbuilding to judging startups, skippering yachts to
marketing and more as he's travelled for nearly 30 years as a Canadian
expatriate living around the world

In his 20s, he sailed around the world on small yachts and wrote a
series of travel articles called, 'The Hitchhiker's Guide to the Seas'
travelling by hitching rides on yachts (1989) in major travel and
yachting publications. 

He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

Visit Website
View All Articles

More News

Facebook Comments

advertisementBlockchain Expo Sportsfix ICO Skyminer Tymlez Evident Proof Femergy Evident Proof Kinesis

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.