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5 y

Top US bank PNC joins Ripple’s blockchain network RippleNet

In a major boost to the San Francisco-based fintech company, PNC Bank, the 9th largest bank in the United States by assets, has joined Ripple’s enterprise blockchain network RippleNet. With over $380 billion in assets, PNC Bank has become the latest member to join RippleNet. RippleNet is a decentralized network of banks and payment providers, which uses Ripple’s financial technology to provide a smoother way to send money globally, with on-demand liquidity and end-to-end tracking on a blockchain. On this latest development, Ripple said in an announcement: “Ripple’s technology will have an immediate impact on each of those groups, enabling PNC’s commercial clients to receive payments from overseas banks in real time.” PNC Bank is a bank holding company based in Pittsburgh and it operates in 19 states and the District of Columbia with 2,459 branches and 9,051 ATMs. It provides services in the areas of retail, consumer-ended banking, and corporate banking. While retail services (including consumer and small business banking) is predominantly offered to clients in the eastern states, PNC offers corporate and institutional banking across the country. The latest addition of PNC bank to its stable is arguably Ripple’s biggest banking scoop for its flagship product. It is important to note here that RippleNet doesn’t use the XRP token. xRapid, a separate Ripple product which uses XRP for real-time liquidity in international transactions has seen relatively fewer adopters compared to RippleNet.

Ripple’s xRapid on the horizon

In an interview with CNBC, Sagar Sarbhai working as the regulatory relations' head at Ripple in the Middle East and the Asia Pacific region has asserted that Ripple is rapidly progressing with its plan of launching its much-awaited xRapid product. Till now, the company has dealt with a number of significant financial institutions, however, none has yet begun to test xRapid. The list of these institutions includes American Express, Western Union, Santander, and MoneyGram. In the interview, Sagar expressed his confidence regarding the upcoming launch stating, "I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production." He also focused on the improving scenario of the regulatory bodies associated with the crypto space and blockchain technology. Ripple chief executive Brad Garlinghouse had previously claimed that “dozens” of banks will be using XRP by the end of 2019. See Also: xRapid, a cryptocurrency product of Ripple will be live soon XRP piloted with 12 banks before creation of the xRapid product: Ripple official Image via Shutterstock Join our Telegram group
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Meme Coin Launches Advertising Blitz Get the latest crypto and stock market news. Stay up-to-date with the latest trends and developments.
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Coins

#
FAV
NAME
PRICE
Portfolio
1H
24H
7D
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1
Bitcoin
Bitcoin
BTC
$ 69 621.26
$ - - - - -
( - - - - - )
Set your amount
OK
-1.04%
-2.03%
+9.06%
2
Ethereum
Ethereum
ETH
$ 3 517.40
$ - - - - -
( - - - - - )
Set your amount
OK
-0.89%
-1.60%
+5.04%
3
Tether USDt
Tether USDt
USDT
$ 1
$ - - - - -
( - - - - - )
Set your amount
OK
+0.01%
+0.01%
+0.04%
4
BNB
BNB
BNB
$ 610.39
$ - - - - -
( - - - - - )
Set your amount
OK
-1.39%
+4.53%
+9.64%
5
Solana
SOL
$ 186.19
$ - - - - -
( - - - - - )
Set your amount
OK
-0.84%
-0.18%
+8.17%
6
XRP
XRP
XRP
$ 0.628301
$ - - - - -
( - - - - - )
Set your amount
OK
-1.56%
+0.85%
+2.59%
7
USDC
USDC
USDC
$ 0.999997
$ - - - - -
( - - - - - )
Set your amount
OK
0.00%
-0.01%
+0.02%
8
Dogecoin
Dogecoin
DOGE
$ 0.213505
$ - - - - -
( - - - - - )
Set your amount
OK
-1.78%
-1.24%
+41.83%
9
Cardano
Cardano
ADA
$ 0.655265
$ - - - - -
( - - - - - )
Set your amount
OK
-1.38%
+0.26%
+5.91%
10
Avalanche
AVAX
$ 53.28
$ - - - - -
( - - - - - )
Set your amount
OK
-1.14%
-2.16%
-1.34%
11
Shiba Inu
SHIB
$ 0
$ - - - - -
( - - - - - )
Set your amount
OK
-1.37%
-4.20%
+15.03%
12
Toncoin
TON
$ 5.02
$ - - - - -
( - - - - - )
Set your amount
OK
-2.16%
-1.67%
+17.16%
13
Polkadot
DOT
$ 9.64
$ - - - - -
( - - - - - )
Set your amount
OK
-0.83%
+1.08%
+8.06%
14
Bitcoin Cash
Bitcoin Cash
BCH
$ 612.12
$ - - - - -
( - - - - - )
Set your amount
OK
-1.05%
+8.08%
+51.52%
16
TRON
TRON
TRX
$ 0.120436
$ - - - - -
( - - - - - )
Set your amount
OK
-0.29%
-0.05%
+2.39%
17
Polygon
Polygon
MATIC
$ 0.991266
$ - - - - -
( - - - - - )
Set your amount
OK
-1.08%
-2.03%
+1.85%
18
Internet Computer
ICP
$ 17.46
$ - - - - -
( - - - - - )
Set your amount
OK
-1.34%
-0.81%
+32.07%
19
Litecoin
Litecoin
LTC
$ 104.37
$ - - - - -
( - - - - - )
Set your amount
OK
-0.99%
+10.28%
+25.96%
20
Uniswap
UNI
$ 12.74
$ - - - - -
( - - - - - )
Set your amount
OK
-0.49%
+3.00%
+9.04%
21
NEAR Protocol
NEAR
$ 6.99
$ - - - - -
( - - - - - )
Set your amount
OK
-1.57%
-3.68%
+8.16%