US Banks Announce Ripple Protocol Integration

US Banks Announce Ripple Protocol Integration

Ripple Labs has sealed new partnerships that will bring its Ripple protocol to two US banks. According to the company's 24th September announcement, Kansas-based CBW Bank and Cross River Bank, located in New Jersey, will be the first American banks to adopt Ripple's open-source distributed transaction infrastructure. The news comes several months after Ripple inked its first deal with the banking sector, when German bank Fidor became the first institution of its kind to integrate the Ripple protocol. Like Fidor, CBW Bank and Cross River Bank will now be able to tap Ripple's low-cost....


Related News

Temenos T24 Core Banking Solution Integrates Ripple Technology

Integrating the Ripple protocol into Temenos T24 lets financial institutions send payments in real-time without requiring intermediary banking relationships. Ripple has always been an initiative to bridge the gap between blockchain technology and traditional banking. Now that this protocol has been showcased as an integration into Temenos T24, the future is looking for bright for Ripple and its partners. Temenos T24 Integration is a Big Milestone for Ripple. There are a lot of people who have never heard about Temenos T24 before, even though it is one of the most commonly used core banking....

Ripple Labs Cracks U. S. Banking with New Deal

Ripple Labs made huge waves today, signing the first two U. S. banks to an agreement to use their open-source payment protocol. Two U. S. banks, Cross River Bank in New Jersey and Kansas-based CBW Bank, proclaim their utilization of the Ripple currency protocol. This makes way for an instant transfer system with international transfers at no charge on Ripple's network. "It's a big milestone," said Ripple Labs Chief, Chris Larsen. "We've been working on our enterprise banking strategy for well over a year. It takes quite a while for banks to get going." Ripple's Transaction Protocol (RTXP)....

You Can Now Use Ripple to Buy, Spend and Trade Gold

Gold Bullion International, a precious metals provider, announced in a statement Tuesday that it was opening as a live gateway on the Ripple protocol, creating a new gold-backed cryptocoin. That currency, XAU, is effectively a token representing physical gold with all of the ease of transaction inherent in cryptocoins. Or, as the Ripple blog puts it, “You are buying gold balances issued by GBI that are backed by and redeemable for physical gold bullion.” This has two key effects, the statement says: Gold becomes easier to trade. Gold can be spent anywhere Bitcoin is accepted via the Ripple....

Ripple Labs' Larsen: We're Partnering With Western Union On Payment Settlements

Ripple Labs CEO Chris Larsen sent the digital currency community buzzing this week when he tweeted that Ripple Labs is working with Western Union on real-time payment settlements. Many view such a partnership as a sign of Western Union's willingness to become more active in the digital currency space. The partnership also signifies a growing recognition of Ripple Labs' open protocol that lets people send digital currency across the Internet-based distributed network. Ripple Labs signed an agreement in the fall with two U. S. banks (Cross River Bank in New Jersey and Kansas-based CBW Bank)....

Blockchain Company Ripple Introduces Muti-Sign Feature for Banks

The Ripple Consensus Protocol has introduced multi-sign option to prevent unauthorised fund international fund transfer between banks by hackers. Ripple, the blockchain based fintech services platform, has announced new developments that can protect banks from hacking incidents. The development comes amidst growing thefts against multiple banks across the world. Ripple’s solution for secure transactions involves the introduction of multi-sign feature to the Ripple Consensus Ledger. The thefts were conducted by hackers who gained unauthorized access to the banks computers and used these....