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According to the Mitsubishi UFJ Financial Group, Ripple transfers a significant amount of money between its various branches all over the world cheaper and faster. Meanwhile, the other Ripple xVia and XRP products are making steady progress.
MUFG shares Ripple's experience
Mitsubishi UFJ Financial Group has a lot to say about Ripple and how it is benefiting the banking giant. Headquartered in Tokyo, Japan, it is the fifth largest bank in the world in terms of total assets.
Ripple and MUFG have been working together since 2017 when they started their collaboration in March. The largest bank in Japan has joined Ripple's Global Payments Steering Group (GPSG) along with other big names such as Standard Chartered, Bank of America Merrill Lynch, Royal Bank of Canada, CIBC, Santander and Westpac Banking Corporation.
Now, according to the latest finding enthusiastic about XRP Steven Diep, MUFG shares his experience with Ripple and the way they benefit from it. The video is apparently from the Blockchain for Finance Conference in late June,
MUFG executive shared "Ripple is one of the solutions we are focusing on and what works", while talking about the need to move a large amount of money around the world:
"Because this is really important to us, we operate in more than 50 countries as a bank all over the world, so more than 50 countries have branches and operations and we have to move money between all those operations every day in a significant amount of money.We have a number of multinational companies operating throughout the territory, so there is a huge liquidity that occurs every day. "
In addition, read: Ripple accelerates the & # 39; expansion of the network and the adoption of the XRP indicating that the price could go higher
Solutions of ripple that make steady progress [19659013] Explain how Ripple helps them to spoil spending money through its subsidiaries all over the world, saving time and money:
"Many of us have to hurry up and run into accusations … many intermediate banks are part of this, and typically an SLA for movements transfer of funds is between 1-3 days … Using a technology such as ripple we can get to something like 30 seconds significantly different and also a lower cost, so it is not only the time savings but also the cost. "
"Many of us have to hurry up and run into accusations … many intermediate banks are part of this, and typically an SLA for movements transfer of funds is between 1-3 days … Using a technology such as ripple we can get to something like 30 seconds significantly different and also a lower cost, so it is not only the time savings but also the cost. "
He also shared how one of his group companies is conducting the ripple implementation allegation that he completed a successful interlacing payment last year in 2017 using Ripple.
The tweet mentioned here is :
MUFG explains how Ripple's solution helps them reduce operating costs among the 50 branches around the world. #ripple #efficiente #settlement #ripplenet #XRP pic.twitter.com/xAr00xpgtr
– Steven Diep (@DiepSanh) September 3, 2018
In addition, Western Union, an American financial services company, is reportedly exploring Ripple for his pilot settlement project Well, this came for the first time in 2015, so Western Union has been reviewing Ripple's technology for its business for a long time, but the company has not shared anything yet this development. [19659007] Also, other Ripple solutions are constantly making progress as Platio, a payment network of the intelligent banking ecosystem with asset guard and crypto Escrow mentions its connection with Ripple as shared,
"We have an agreement with Ripple. We will integrate with the xVia functionality of Ripple to transmit payments. "
In the meantime, as shared in this Tweet:
It's part of our planning We have to start and then expand the choice XRP rocks!
– Bit4you (@ Bit4you1) September 2, 2018 [19659023] The Ripple XRP as a base currency is gaining a lot of traction as Bit4you, "First Cryptographic Asset Exchange in Belgium" shared plans for XRP.
Summary
Article
Ripple is significantly faster and cheaper: Giant Japanese MUFG Giant
Description
According to Mitsubishi UFJ Financial Group, Ripple makes moving a considerable amount of money between its various branches all over the world cheaper and faster.In the meantime, the other products of Ripple xVia and XRP are making steady progress.
Author
ANJALI TYAGI
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COINGAPE
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The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication has no responsibility for personal financial loss.
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