Standard Chartered will begin expanding the use of network RippleNet for cross-border payments in five more countries within this year and next. The Bank uses RippleNet for trade corridor worth $ 15 billion between India and Singapore in November.
The system is used to speed up the processing of payments between buyers and sellers in corporate supply chain of the Bank.
Plans to expand use of the platform was affected by the General Director of Standard Chartered bill Winters in the intermediate management report for 1Q.
We use the technology of the blockchain to optimize cross-border payments within the first corridor payments in real time between Singapore and India, which we launched in 2017. We will extend it up to five pairs of countries in 2018 – said the winters in the section of the report on the Bank’s investment in innovative technology.
At the time of writing, the XRP exchange rate amounted to 0.86 dollar.
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