Mitsubishi Corporation, Standard Chartered and Bank of Ayudhya (Krungsri), a subsidiary of MUFG, the Bank of Thailand, announced a joint pilot project of payments between Singapore and Thailand with the help of xCurrent. The purpose of the pilot is to demonstrate the commercial viability of the delivery of high-speed cross-border payments between non-banks.

Many multinational corporations have to create buffers of liquidity around the world, forcing them to sit on pools of money sitting around all. This dormant capital is exposed to risks (payments in foreign currency, counterparty, fraud), as well as the administrative burden, making cross-border payments even more difficult for these organizations.

To the extent that, as global trade continues to grow, the problems associated with cross-border payments experience not only large but also small enterprises. These companies have no resources or experience to navigate the pitfalls of today’s payment rails. Therefore, an increasing number of enterprises refers to the Fintek suppliers to meet their global needs. To maintain competitive advantage, many financial institutions have begun to introduce new technologies based on the block chain.

The output of RippleNet is increasing at an exponential rate, so that experts consider this project unique is the inclusion of Mitsubishi Corporation. Like many of their counterparts in the Fortune 500, Mitsubishi Corporation promotes faster, more transparent and traceable solutions for global liquidity management.

Note the Ripple rate at the time of writing still shows a decline as the stock market in General. Price per coin XRP now is $ 0,68.

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