Ripple Labs Joins the NACHA Payment Innovation Alliance
Ripple Labs has joined the NACHA Payments Innovation Alliance, according to a new post on the Ripple blog. NACHA oversees the administration of the ACH network and acts as an industry trade organization representing over 11,000 financial institutions. The association with the organization is nothing to breeze over. Nearly 22 billion ACH transactions took place in 2013 valued at 38.7 trillion dollars. The move reiterates Ripples focus toward banking. Banks may be quicker to adopt Ripple than Bitcoin because Ripple gateways can be configured to have AML and KYC policies in place. Also,....
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Ripple Labs announced yesterday it has joined the NACHA Payments Innovation Alliance - a move it says will increase its influence within the financial and payments industry, as well as help promote new technologies in the space. NACHA, previously the National Automated Clearing House Association, is a not-for-profit industry body of financial institutions that serves as trustee for the Automated Clearing House (ACH) network, the backbone for electronic payments and movement of money and financial data in the US. The ACH Network is similar to the SWIFT network that facilitates international....
San Francisco-based Ripple Labs, the startup behind the digital payment network Ripple, has joined the International Payments Framework Association (IFPA). The Association, whose members include the likes of ACH, NACHA and SWIFT, provides rule sets, best practices and guidance on how to improve cross-border payments. Nilesh Dusane, director of business development at Ripple Labs, said that the company was
Blockchain payments startup Ripple has joined an alliance comprising of almost 1,000 major U.S. companies and CEOs calling for calm and fairness in Tuesday's presidential election.
Ripple Labs, the creators and developers of the Ripple network, have appointed Donald Donahue, former CEO of The Depository Trust & Clearing Corporation (DTCC), as an adviser. The new addition to the advisory board comes amid the digital currency startup's efforts to push adoption of the Ripple payment network onto banks and financial institutions. DTCC is one of the largest clearing houses of securities and derivatives in the United States, processing $1.6 quadrillion worth of transactions last year. It is also one of the largest clearing houses in the world. "I'm very interested in the....
Creators of the Ripple payment protocol, Ripple Labs, have been elected to the Federal Reserve's Faster Payment Task Force Steering Committee. The Fed created the Faster Payment Task Force earlier this year to tackle the challenge of upgrading the United States' outdated payment infrastructure, which lags behind Europe, and, in some cases, emerging markets such as China. The committee will help execute and discuss a payment strategy laid out by the Fed earlier this year. The central bank's main goal is upgrading the country's domestic payment system used for e-check settlement, called the....