Standard Chartered Completes Cross-Border Blockchain Payment in 10 Seconds
Tapping blockchain technology, London-based multinational banking and financial institution Standard Chartered has announced the completion of its first cross-border real-time payment. Standard Chartered is the latest bank to successfully implement a blockchain solution for the payments. As with many banks pulling off the feat for business transactions, Standard Chartered used Fintech startup Ripple’s enterprise blockchain platform. In this endeavor, the pilot saw a transaction ping over to an unnamed “major correspondent bank” to see the transaction complete in less than 10 seconds. This....
Related News
Standard Chartered Bank has become the latest major bank to enter the metaverse. The bank has acquired “virtual land at The Sandbox metaverse’s Mega City district, a culture hub based on or inspired by Hong Kong talents.”
Standard Chartered Bank Forays Into the Metaverse
Standard Chartered Bank announced Tuesday that its subsidiary, Standard Chartered Bank (Hong Kong) Ltd. (SCBHK), has partnered with The Sandbox, a popular blockchain virtual gaming platform, “to create [a] metaverse experience.”
Standard Chartered is a leading global....
Major banking corporation Standard Chartered is launching a cryptocurrency exchange and brokerage service, giving its clients access to cryptocurrencies, such as bitcoin and ether. Standard Chartered joins a growing list of major banks worldwide that have embraced cryptocurrency. Standard Chartered Bank Diving Into Crypto Standard Chartered PLC (STAN.L) said Wednesday that the bank’s innovation arm, SC Ventures, will establish a cryptocurrency brokerage and exchange platform. The new exchange will be a joint venture between SC Ventures and BC Technology Group (0863.HK), a Hong....
Although DBS and Standard Chartered have tried their ledger of invoices at the end of 2015, not too many details have been revealed regarding their progress ever since. Even more financial institutions are turning towards the blockchain these days, as the technology will help financial players reduce overhead costs and offer better security standards. DBS and Standard Chartered have partnered up to venture into the world of blockchain technology in an attempt to reduce fraud rates. DBS and Standard Chartered Take On The Blockchain. It is positive to see financial entities actively explore....
A collaboration between Canadian financial institution ATB Financial, German software multinational SAP, blockchain startup Ripple Labs and Geman bank ReiseBank AG has demonstrated the potential of blockchain technology, wherein an international payment took 20 seconds as opposed to several working days. German multinational software firm SAP has announced the results of an international cross-border payment using a SAP-developed cloud platform and payment engine while transacting on the Ripple blockchain network. A payment of CAD $1,000 was transferred successfully from Canadian financial....
SAP is venturing into blockchain technology applications. The German multinational company, a market leader in enterprise application software and a legend in the enterprise computing world, announced that it collaborated with digital fintech company Ripple and two banks, ATB Financial in Canada and ReiseBank in Germany, to demonstrate how banks can improve the efficiency of cross-border payments by using blockchain technology. Working with a team at ATB Financial, SAP and Ripple designed and built a proof-of-concept prototype based on blockchain technology. The prototype was used to send....