0
📰 News
2123 views

Ripple Announced as Cheapest Method for Transnational Payments by Major DBS Bank in South-East Asia

  • Yuri Molchan
    📰 News

    One of the major banks in South-East Asia has officially dubbed Ripple the cheapest way for making international payments

Ripple Announced as Cheapest Method for Transnational Payments by Major DBS Bank in South-East Asia
Cover image via 123rf.com
Contents

On Wednesday, one of the major XRP community members, going by the nickname @BankXRP, published some positive news about Ripple on their Twitter account. This user generally promotes Ripple and XRP and its ecosystem.

This time, @BankXRP published some information regarding one more acknowledgement of Ripple by major global banks. One of them, DBS Bank, which is one of the top banking institutions in the South-East Asia, has referred to Ripple as the cheapest way of conducting transnational payments.

Ripple is acknowledged by DBS Bank

The bank was set up back in the late 60s of last century and it operates nearly $340 bln in assets. Its annual revenue is about $10 bln.

In the recently issued official document, the bank compares several payment systems for international transactions and selects Ripple as the fastest one.

👉MUST READ

Ripple’s XRP Added to New Index of NASDAQ on Recently Launched Website

Ripple’s XRP Added to New Index of NASDAQ on Recently Launched Website

Ripple’s top manager joins MoneyGram board

Meanwhile, Ripple continues to expand its list of partners and starts working with them closely. An XRP community member has announced on Twitter that Kahina Van Dyke, who is head of SVP Business and Corporate Development at Ripple, has joined MoneyGram’s board of directors as an observer.

This follows the recent partnership between Ripple and MoneyGram as the latter started using Ripple’s xRapid technology for conducting international payments.

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

Recommended articles
0
📰 News
175 views

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
    📰 News

    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

Subscribe to News.U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings