Standard Chartered plans to expand its use of the Ripple system for cross-border reimbursements to five more pairs of countries following year.
Standard Chartered PLC is a British multinational financial and banking services company based in London, England. It operates a system of more than twelve hundred outlets and branches across over seventy countries and has hired around eighty-seven thousand people.
Ripple connects banks, digital asset exchanges, corporates and payment providers, via RippleNet to offer one frictionless experience to send cash globally. The bank went public with its utilization of Ripple to release the $15 billion trade corridor between Singapore and India in November.
The structure is being applied to speed up payments progressions between sellers and buyers in the bank’s corporate supply chain.
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