American Corporation PNC Bank joined the growing number of financial institutions using payment products from Ripple.
Department of the Treasury Bank will begin to use the product xCurrent to commit cross-border transactions. This was announced by senior Vice President Ripple Ashish Birla.
PNC is one of the 10 largest U.S. banks by assets, and he has successfully conducted stage testing technologies in payments, and therefore will immediately start to use xCurrent into a full-fledged production.
– I think it is important that this is not a test. In Ripple, we talk about those customers who fully use our products and technology. It is not part of the battery test transaction has already been made, said Birla
Birla also believes that small businesses in the United States, which are connected to RippleNet, will especially benefit from this new integration, partnering with PNC.
– Waiting two or three days does not sound so long but it’s two or three days without access to capital. So our product will help you to really turn the game, said Birla.
Judging by the rapid adoption of products, PNC already has clients lined up to work with xCurrent initially, but Birla could not provide any information about it.
Despite the fact that the Bank will start to use xCurrent, Birla hoped that the Bank will eventually begin to work with the platform xRapid.
– PNC uses our technology to get several corridors provided by xCurrent. So when they are ready to start working with emerging markets, we will introduce them xRapid. However, now we are working to help them to start working with xCurrent – said Birla.
Birla also said that he was very pleased to see the efforts of the Ripple start to be implemented, particularly in developing and underserved markets.
The Vice President also commented on the words of Sagara Sabha that xRapid will be launched in the coming months.
– We haven’t officially announced the time. But I must say that we, and especially I, are very pleased by the success xRapid — said Birla.
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