US Banks: Why We Embraced Ripple
The path for any bank to approach new technology isn't a simple one. From first learning about a technology to discussing it with regulators and stakeholders, to finally integrating it with existing infrastructure, the timeline often constitutes a lengthy testing and review process. Yet despite these hurdles and the broader banking industry's apprehension, CBW Bank and Cross River Bank have become the first US institutions of their kind to adopt Ripple's distributed open-source payment protocol. In conversations with CoinDesk, executives from both banks explained why protocols like Ripple....
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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....
Thursday, Blockchain company Ripple announced that it had raised $55 mln in funding. Accenture Ventures, SCB Digital Ventures, the venture arm of Siam Commercial Bank and Santander Innoventures are just a few of the investors who participated in the Series B funding. Additionally, Ripple has secured partnerships with major banks, including Standard Chartered, BMO Financial Group, and Shanghai Huarui Bank. In the near future Ripple plans to partner with even more banks, which are planned to use the service it provides to improve cross-border payments. Overall, Ripple has received over $93....
Ripple Labs Inc., has had its BitLicense application approved today by New York state’s financial regulator. The New York State Department of Financial Services (NYDFS) has approved Ripple Labs’ BitLicense application. Granted today, the approval will grant Ripple the license to sell and obtain XRP – the native digital asset of the Ripple Consensus Ledger, a platform used by financial institutions including banks as well as companies. Designed to improve currency liquidity while lowering the significant capital costs of cross-border payments, XRP enables banks to use one XRP account held....
An international banking alliance is using the Ripple blockchain network technology for cross-border payments efficiency. Banks from Canada and Israel signed an agreement with National Australia Bank (NAB), Australia’s largest business bank, to improve the security and efficiency of their payment systems, share innovation strategies, and more. Top Banks Use Ripple For Cross-Border Payments Currently, […]
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....