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

  • Yuri Molchan
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    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
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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.

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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.

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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.

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Nationwide Blockchain of China Finally Preparing for Launch

  •  Denis Sinyavskiy
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    China launching nationwide blockchain service in beta mode until March 2020. It must push forward digital economy and smart cities

Nationwide Blockchain of China Finally Preparing for Launch
Cover image via www.123rf.com

China continues to take steps toward the digital economy and smart cities by officially releasing a nationwide blockchain service network, XINHUANET says.

Blockchain service network expectations

UnionPay, State Information Center (SIC), China Mobile and three other organizations worked on a system that will help China lead the blockchain technology market. Blockchain beta testing has already been announced and will last until March 2020, and all content and services will be available for free till that date.

BSN is expected to accelerate the development of digital technology and smart cities, as well as foster the development of new technology and industries.

What about CBDC?

Earlier, U.Today reported, that China has come close to creating its own cryptocurrency and may even launch it this fall, but then there was information that the national digital currency will appear later.

But China will not become the first country to introduce a national cryptocurrency. The Kingdom of Bhutan has already done it this month, as we already reported.

So, what do you think? Does the launch of China's national blockchain mean that the country will become a leader? Write what you think about this in the comments section!

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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.

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