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Ripple Adds Top US Bank With 8 Million Customers, Provides Option to Leverage XRP

by Daily Hodl Staff
September 19, 2018
in Blockchain

PNC Bank, a top 10 US bank, has joined RippleNet. As a member of Ripple’s growing list of banking partners, PNC customers will be able to receive real-time cross-border payments.

PNC has more than 8 million customers and retail branches in 19 states. Its customer base ranges from consumers to small businesses and large corporates.

Ripple’s technology will enable PNC’s commercial clients to receive payments from overseas banks in real time. For example, a commercial client in Pennsylvania receiving a payment from a UK buyer will be able to receive payments against their invoices instantly.

RippleNet is a network of banks and payment providers that use Ripple’s blockchain to process payments, including the option to leverage XRP to lower liquidity costs and improve speed. By driving fast and cost-efficient transactions, Ripple aims to transform how banks manage working capital and accounts receivable.

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The company also recently announced that the National Commercial Bank of Saudi Arabia has joined its network.

Along with NCB, PNC joins Banco Santander, American Express and the SBI-led Japan bank consortium, among many other leading financial institutions that have grown RippleNet to over 100 financial institutions in more than 40 countries across six continents.

The Ripple Beat

Watch It Live: Ripple Hosts New AMA on RippleNet and XRP

Royal Bank of Canada Says Ripple and XRP Can Save Financial Institutions 46% Per Payment

You Can Now Accept XRP on YouTube and Twitch

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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