It would appear that a new rivalry is raging that looks set to decide how cross-border payments are handled for decades to come. It is a contest that encapsulates much... more
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Ripple has announced aggregated and averaged results from several early xRapid pilots. xRapid is Ripple’s on-demand liquidity solution which uses the digital asset XRP for more efficient cross-border transactions between financial institutions sending fiat payments. According to the pilot results, participating financial institutions saw a savings of 40-70% compared to what they normally pay expensive [...]
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Banco Santander has launched new international money transfer service using blockchain-based technology from Ripple. The service is available to retail customers in Spain, UK, Brazil and Poland, and will be rolled out across more countries in the coming months. The new service, known as ‘Santander One Pay FX’, makes it possible for customers to complete [...]
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Ripple has developed a payments app that settles transactions instantly, in partnership with a consortium of 61 Japanese banks based on blockchain technology. Ripple says that the app, called “Money Tap,” will first go live in the fall. It will initially be available with three banks included in the consortium — SBI Net Sumishin Bank, [...]
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Ripple has announced a tie-up with money transfer company MoneyGram, a move which is significant because the arrangement involves the use of XRP, Ripple’s digital currency, which has recently soared in value but also faced questions about its practical uses. The partnership will see MoneyGram pilot the use of XRP through a new Ripple service, called xRapid, designed to provide [...]