Malaysian Bank CIMB has partnered with a network of RippleNet for acceleration of remittances to the countries of South-East Asia. About the company Ripple announced on the official website.
According to representatives of Bank, the decision of the Ripple will extend the capabilities of proprietary money transfer system SpeedSend, currently working in the Philippines, Japan, Singapore, Thailand and India.
“We plan to carry out instant transfers in Australian, American, British and Hong Kong’s corridors”, — said CIMB.
For its part Ripple CEO brad Garlinghouse noted that the implementation of blockchain solutions RippleNet will make Bank charges more transparent, fast and cheap.
What kind of payment solution from Ripple will use CIMB are not reported.
We will remind, in October the company MercuryFX, Cuallix and Catalyst Corporate Federal Credit Union began commercial use of the payment platform xRapid from Ripple.