`Cementing Chain’s position in the industry was CEO Adam Ludwin’s control of the conversation on a panel that included distributed ledger startup Ripple and its partners Royal Bank Canada and Toronto Dominion (TD) Bank.`
This is massive for XRP: Moreover, the financial institution also hints at using XRP in the future. Ripple’s native asset can help the bank save a lot of money in the process. By combining the Ripple blockchain and XRP, banks can save costs by 60% at the minimum. That is quite a significant amount for any financial institution in the world today.It goes to show Ripple certainly has its role to play in the future of banking. What that future may hold, remains anybody’s guess at this point, though.
he rollout of this new service begins today, and supports individual funds transfers in JPY in Japan to THB in SCB savings accounts in Thailand. Once sent into blockchain network, the funds are credited to a SCB recipient's account within two to five seconds or about 20 minutes to complete the transaction, a significant uplift compared with the up to two business days it currently can take for a payment to be made between the two countries. SCB plans to roll out the service in other key markets across North America, Europe and Asia Pacific.
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