Westpac and ANZ Join Ripple Labs Bandwagon with CBA
Following the Commonwealth Bank of Australia's (CBA) move to partner with Ripple Labs in using blockchain technology for its offshore transactions, other banks in Australia joined the bandwagon. Westpac and Australia New Zealand Banking Group (ANZ) are also working to test payment technology offered by Ripple Labs. According to Westpac, it is in the early stages of a proof of concept using the Ripple network in which staff are making low-value international payments to two other countries. ANZ is still in the middle of constructive conversations with Ripple and is in the process of....
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Two of Australia's "big four banks," Westpac Banking Corporation and the Australia and New Zealand Bank Group (ANZ), are trialing Ripple payments for faster and lower-cost cross-border payments. Westpac, which is ahead of ANZ in its intention of integrating Ripple, said it is in the early stages of a proof-of-concept where staff members are testing the system by making small international payments to other countries. Speaking with the Australian Financial Review, Rachel Slade, general manager of global transactional services at Westpac, said that Westpac has been satisfied by the....
The CEO of Westpac Group, Australia's second-largest bank, has claimed it is "too soon" to panic about bitcoin and blockchain technology. At a strategy briefing in Sydney yesterday, Brian Hartzer said the future of the technology - which has a number of "limitations" - is currently uncertain, the Sydney Morning Herald reports. He added: "I think it is a bit too soon to panic about it. It is potentially quite powerful from an efficiency point of view. It is one of the things we are keeping an eye on." In June, the bank went public with details of its current proof-of-concept with Ripple....
Two of Australia's 'big four' banks, Westpac Banking Corporation and the Australia and New Zealand Banking Group, are experimenting with peer-to-peer transfers on the Ripple protocol. The news, revealed by The Australian Financial Review, follows last month's announcement that the Commonwealth Bank of Australia (CBA) - another 'big four' rival - is trialling the tech for transfers between its subsidiaries. At the time, CBA's chief information officer David Whiteing described distributed protocols as
Payment exchange network Ripple Labs recently appointed Norman Reed as its general counsel. A law graduate from Columbia University, Reed started his career at a large international firm where he worked for three years. He later joined the prestigious Federal Reserve Bank of New York, where he got to know Karen Gifford - Ripple Labs's Chief Compliance Officer, also a former New York Fed. "In the wake of BCCI - along with some other shifty things happening in the early 1990s in the banking industry - the Fed wanted to start up an enforcement group styled after the SEC enforcement group,"....
Ripple (formerly Ripple Labs) has filed a trademark infringement lawsuit against Kefi Labs, the makers of a social photo-sharing app called Ripple. In documents filed on 2nd October in the US District Court for the Northern District of California, the San Francisco startup stated it is seeking $2m in damages against Kefi Labs for infringement, unfair competition and cybersquatting, funds it suggests represent three times of the value of the actual damages sustained. The 13-page lawsuit goes on to allege Kefi Labs and its employees used domain names such as getripple.io that were....