Ripple have announced that Standard Chartered (Singapore), Axis Bank (India), and RAKBANK (United Arab Emirates) are now using RippleNet to process live, fast, frictionless cross-border payments.
These three major banks use Ripple’s leading enterprise blockchain solution to power instant, on-demand corporate payments from Standard Chartered to Axis Bank, and retail remittance payments from RAKBANK to Axis Bank beneficiaries.
The Ripple-powered corporate payment service will allow each bank to offer their business customers an enhanced payments experience, which will enable their end-customers to manage their cash flows, costs and float better across the $15bn Singapore-India trade corridor.
More information is available on the Ripple website.
