Ripple: Distributed Ledger Tech Can Save Banks 42% on Global Payments
Ripple has projected that banks that use the Ripple network and its native cryptographic token XRP for cross-border payments can save up to 42% when compared against today's options. The findings are part of a new 15-page report issued today by the distributed ledger technology (DLT) startup. Entitled “The Cost-Cutting Case for Banks”, it finds Ripple offering clarity as to the cost-savings its products can realize for the first time. Further, the report projects respondent banks using Ripple without XRP can save 33% on international payments, with savings being generated by a 65%....
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