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Ripple and MoneyGram test XRP currency transfers
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 [...]
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AmEx partners with Ripple for blockchain-enabled cross-border B2B payments
American Express has announced the introduction of blockchain-enabled, cross-border B2B payments. The American Express FX International Payments (FXIP) business is working with Ripple to make blockchain payments commercially available, reducing the time and cost of settlement, Santander UK is the selected partner to initiate this new transaction channel, which has the potential to expand substantially [...]
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Ripple declares $15bn of cryptocurrency reserves and 100 members
Ripple, one of the biggest blockchain companies, has announced it has $15bn of cryptocurrency reserves that it may use to acquire or partner with rivals, as it seeks to dominate its fast-moving sector within financial technology. CEO Brad Garlinghouse said the company had “moved out of the sandbox” after signing up more than 100 customers, [...]
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BBVA complete blockchain based money transfer pilot with Ripple
BBVA just completed the first real-life implementation of an international money transfer using Ripple’s new Distributed Ledger Technology (DLT). The transaction, running on BBVA infrastructures with real money, successfully completed transfers between Spain and Mexico in a matter of seconds. Currently, transfers between countries take up to four days to clear. The use of disruptive [...]
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Nigerian Central Bank bans Bitcoin and virtual currency
The Central Bank of Nigeria (CBN) has barred deposit taking banks and all other financial institutions from the operation of any form of virtual currency. The warning by the Apex bank was contained in a circular by the CBN Director of Financial Policy and Regulation Department, Kevin Amugo. Virtual currency (VCs) such as bitcoin, ripple, magneto, [...]
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