United Kingdom-based financial software firm Finastra has partnered with Ripple to join RippleNet, a global blockchain payments network with over 200 members.
As officially announced by Ripple on Oct. 9, the new partnership will allow hundreds of Finastra's customers to connect and transact with RippleNet to provide faster and cheaper cross-border payments.
In turn, over 200 financial institutions on RippleNet will have access to Finastra's network of banks, allowing mutual customers to access and partner with each other, the firm stated.
Users will be able to send international payments with end-to-end tracking and monitoring of the fees, transaction time and status.
The collaboration also intends to boost the speed of integration with other network partners and enable faster upgrades, according to the announcement.
On-demand liquidity with XRP. Additionally, Finastra's customers will have the option to use on-demand liquidity, which leverages Ripple's cryptocurrency XRP for cross-border payments.
"Finastra's collaboration with Ripple is another strong example of Finastra's belief that the future of finance is open, and it demonstrates our commitment to bringing the latest innovations and choices to our customers."
Finastra has been an active player in the financial blockchain applications sphere.
In May 2019, the firm added three more banks - BNP Paribas, Natixis and Societe Generale - to its R3 Corda blockchain-based syndicated loans platform following previous pilots in 2017.
As Cointelegraph reported on Oct. 3, Samsung's mobile payments service Samsung Pay has partnered with RippleNet member Finablr to offer cross-border payments feature Money Transfer to its app's users.
Finastra Joins RippleNet to Support Cheaper Cross-Border Payments
gepubliceerd op Oct 9, 2019
by Cointele | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.