PNC Bank, known simply as PNC, is the last global bank to join the Ripple Network when the bank announced that it will use xCurrent, one of Ripple's products. To elaborate, PNC Financial Services Group, headquartered in Pittsburgh, is not only one of the most influential banks in the United States, but is also one of the most capitalized in ninth place in the list of assets.
More information on PNC Bank
That's not all, the bank has eight million customers in the United States and while it distributes retail services in the eastern United States, the bank is mainly known for its banking system corporate and institutional. Apart from this, PNC is among the top in the number of ATMs and bank branches in the United States.
PNC Bank adopts XCurrent, Join NCB
That's why, PNC's decision to join more than 120 global banks in the ballooning network of global banks eager to use one of the three main products The Ripple offer is a big problem. Ripple executives have been tirelessly pledging the world to launch the benefits that financial institutions, funds and even start-ups should pick up when they adopt Ripple's solutions.
Just recently, one of the largest banks in Saudi Arabia, the NCB announced its decision to join RippleNet by November. As reported by RippleCoinNews, under the new staging, a $ 120 billion bank will act as a link that actively links banks from Asia to North America, while bank customers benefit from super fast speeds and negligible commissions.
While making the announcement, Ripple's adoption by the PNC of their innovative xCurrent solution will have an immediate impact. Specifically, PNC customers will benefit from the enjoyment of transactions in real time and instant transaction.
" Ripple technology will have an immediate impact on each of these groups, allowing commercial customers of PNC to receive payments from foreign banks in real time
Even if the bank will not use XRP, it is still a boost and a sign of confidence in the Ripple solution and could mark the early stages of global migration from SWIFT.