Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Latin American Banks Exploring Ripple’s Cross-Border Payments Technology Across Eight Countries: Report

by Daily Hodl Staff
June 23, 2019
in Blockchain
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
‎‎‎ ‏‏‎

A pair of banks in Latin America are reportedly taking a hard look at adopting Ripple’s cross-border payments technology.

Banesco Panamá and Scotiabank Chile are both testing how they can move capital with Ripple’s xCurrent, according to the financial news agency iupana.

According to the report, Banesco Panamá is now working with regulators to ensure it’s fully compliant and is also taking a look at the digital asset XRP to move money around the world.

“Banesco is aiming to roll out the technology between the banks in its group – covering the Dominican Republic, Panama, Portugal, Puerto Rico, Spain and Venezuela…

Banesco’s proof of concept used the xCurrent network for the funds transfer, seeing use of Ripple’s cryptocurrency XRP as being a step further than it is comfortable with.

Once integrated into the Ripple network, Banesco aims to initially offer blockchain-based transfers only between banks in the group. That’s because Banesco needs to strike a deal on rates and exchange rates bilaterally with each recipient bank.”

Meanwhile, Scotiabank Chile is also testing international payments with Ripple.

Digital bank VP Daniel Kennedy says the bank believes Ripple’s payment network “works really well”. Kennedy cited Lima, Peru as a potential place customers could send funds, but says more work needs to be done before the bank can fully integrate Ripple’s technology.

“As soon as you do that, the process becomes a lot more efficient, a lot more effective. And you can start having almost one account. If you’ve got a small business in Chile with clients in Lima, they can deposit into an account that has the same number and it just gets transferred. But we’re not there yet.”

Ripple says at least 200 banks and financial institutions have now signed up for its global payment network RippleNet. Last week, CEO Brad Garlinghouse said the company is signing up new clients at a record pace as interest in blockchain-based solutions has been growing ever since Facebook revealed its digital asset Libra.

Follow us on Facebook            Join us on Telegram            Follow us on Twitter


Check Latest News Headlines


ADVERTISEMENT


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.
Submit a Press Release

Crypto Livewire – Press Releases

  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
  • Everest Receives Crypto Custodian Approval
    February 23, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$46,766.00
$46,766.00
1.16%
Ethereum
$1,476.81
$1,476.81
0.35%
Binance Coin
$227.13
$227.13
1.82%
Polkadot
$33.66
$33.66
13.64%
Cardano
$1.41
$1.41
32.63%
XRP
$0.436909
$0.436909
1.48%
ADVERTISEMENT

Spotlight

  • Public Companies Will Mirror Tesla’s Bitcoin Investment, Says Wealth Management Exec – Here’s Why
    February 23, 2021
  • Goldman Sachs and JP Morgan Reportedly Buying Exposure to One Crypto Asset – And It’s Not Bitcoin or Ethereum
    February 21, 2021
  • Confusion Over Billion-Dollar Whale Transfer May Have Triggered Crypto Crash, According to On-Chain Analyst Willy Woo
    February 25, 2021
  • Elon Musk Compares Crypto to Gold, Says Prices of Bitcoin and Ethereum Seem High
    February 22, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.