Ripple Adds 7 New Financial Institutions as Tech Partners
San Francisco-based distributed ledger tech startup Ripple has added seven new partner financial institutions. Announced today, ATB Financial, the Canadian Imperial Bank of Commerce (CIBC), National Bank of Abu Dhabi (NBAD), Reisebank, Santander, UniCredit and UBS have all revealed that they are using the technology, though Ripple said the specific use cases each partner is pursuing varies. In interview, Ripple CEO Chris Larsen sought to position the partnerships as evidence that adoption of the company’s technology is increasing, and that these partners are increasingly serious about....
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Dilip Rao, Managing Director of Ripple Labs in Sydney, has announced that Ripple will continue to expand its “highly demanded” real-time settlement protocol in the Asia-Pacific region. Ripple appointed fin-tech veteran and experienced salesman Dilip Rao for the new Ripple Labs Asia Pacific subsidiary back in April. According to Ripple, the company established the new facility to support the “growing demand for Ripple’s real-time settlement protocol in the region” and to connect with Ripple Labs partners in the Asia-Pacific market. In a press release, Rao explained that countries in the....
The R3CEV banking consortium could be partnering with Ripple Labs, according to a tweet from Ripple Labs CEO Chris Larsen. “The future of fintech is bringing together like-minded companies, like @R3CEV and @Ripple. More details to come soon…,” Larsen tweeted. R3CEV Explores Ripple. Jo Lang, R3 research director, wrote a white paper on considerations for Ripple adoption by large financial institutions one year ago. Lang noted that Ripple has focused on partnership versus competing with existing financial institutions seeking to gain efficiencies and improve transaction processes. R3....
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....
1. What is Ripple? Ripple is the name for both a digital currency (XRP) and an open payment network within which that currency is transferred. It is a distributed, open-source payments system that's still in beta. The goal of the ripple system, according to its website, is to enable people to break free of the "walled gardens" of financial networks - ie, credit cards, banks, PayPal and other institutions that restrict access with fees, charges for currency exchanges and processing delays. 2. What does Ripple do? According to is OpenCoin, the company behind ripple, the currency addresses....
A report commissioned by secretive distributed ledger consulting group R3CEV and authored by bitcoin developer Peter Todd has raised questions about the ability of the Ripple protocol to serve the needs of global financial institutions in its current iteration. The release notably comes at a time when Ripple Labs, the corporate entity overseeing the network, has been increasingly attracting the attention of legacy financial institutions interested in bitcoin and the wider blockchain ecosystem. Ripple Labs has raised $37m to date, and partnered with Commonwealth Bank, Fidor Bank and Western....