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.
DBS bank mentions Ripple as the cheapest option for Lowest cost routing— 𝗕𝗮𝗻𝗸 𝑿𝑹𝑷 (@BankXRP) August 21, 2019
🔹SWIFT/ Telegraphic transfer: most expensive
🔹Cross-border ACH: cheaper
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.
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.