Ripple-powered instant payment services now live with Axis Bank, RAKBANK, and Standard Chartered
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.