South Korean Bank Woori Bank is going to introduce a “commercial” transfers this year, on the basis of the Ripple network, reports Cointelegraph.
After a successful test of the January transactions, the Department’s digital strategy, the Bank is considering the introduction of technology Ripple for money transfers.
Test transactions have become part of the cooperation Ripple and SBI Group, which was also attended by 37 other institutions. Most of the participants consists of Japanese banks, given the notorious reputation as a Ripple in Japan.
The second largest Bank of South Korea Shinhan also took part in cooperation.
“GIVEN THE POSITIVE RESULTS OF THE TESTS IN JAPAN WILL BE A LOT OF INTERESTED BANKS,” — COMMENTED THE REPRESENTATIVE OF THE BANK WOORI BANK.
In the Treasury Ripple added another good month despite the fact that his XRP cryptocurrency asset has fallen in price, compared to the record rates achieved in early January.
In mid-February, Ripple announced that the Western Union is also considering the use of blockchain technology from Ripple, to reduce the time and costs associated with international transactions.