Axis first bank in India to use Ripple’s blockchain network

Axis Bank

Axis Bank has become the first bank in India to use Ripple’s blockchain network for cross-border payments. The bank, the third largest in the private sector, will use the network for real-time settlement as it targets future growth. Amit Sethi, president and CIO at Axis Bank, says: “We will come out with solutions for our […]

SEB and Ripple to build real-time payments system on blockchain

Paula da Silva, SEB

SEB has teamed up with blockchain specialist Ripple to enable SEB customers to make real-time transfers between SEB accounts in Stockholm and New York. This is “the first step” of a larger blockchain-based payments project.

Japan rises to blockchain challenge with new consortium


The name may not be catchy but “The Japan Bank Consortium to Centrally Provide Domestic and Cross-border Payments” has officially launched with 42 member banks. As Banking Technology reported in August, SBI Ripple Asia, a joint venture between distributed ledger tech provider Ripple and SBI Holdings, announced that a Japanese consortium of 15 banks in […]

R3 and Ripple trial interbank cross-border payments

Ripple logo

R3 and twelve of its blockchain consortium member banks have trialled Ripple’s Digital Asset XRP for interbank cross-border payments. Using XRP, Ripple says it can enable near real-time value exchange anywhere in the world, providing “liquidity on demand and reducing associated costs”. David Rutter, CEO of R3, says the prototype “paves the way for a […]

Banking Technology October 2016 issue out now

Banking Technology October 2016

The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.

Big banks swell Ripple’s new blockchain payments group

Ripple logo

Ripple has created the “first” interbank group for global payments based on distributed financial technology – aka blockchain. Bank of America Merrill Lynch (BAML), Santander, UniCredit, Standard Chartered, Westpac Banking Corporation, and Royal Bank of Canada are the founding members of the network, known as the Global Payments Steering Group (GPSG). CIBC will also join […]

NAB completes successful international money transfer using blockchain

Bank transfer in seconds – from Australia to Canada via Ripple tech

National Australia Bank (NAB) says it has successfully transferred AU$10 ($7.6) – using Ripple’s blockchain tech – from Australia to Canada. It took ten seconds to process.

Six more in the mix for Ripple’s payments network

Ripple logo

Standard Chartered, National Australia Bank, Mizuho Financial Group, BMO Financial Group, Siam Commercial Bank and Shanghai Huarui Bank are the latest banks to join Ripple’s blockchain-powered network for cross-border payments. “2016 has proven to be the year where the most forward-thinking financial institutions are actually using blockchain technologies for payments and settlement rather than as […]

M&A round-up: 15 September 2016

Banking Tech 2

Welcome to the world of mergers and acquisitions – and our mission to provide a quick round-up. Ant Financial, Alibaba’s payments arm, has bought Missouri-based EyeVerify, a biometric security technology company. The big deal here is that its tech is used by Wells Fargo – and regional banks and credit unions in the US. Also, […]

Ripple blockchain powers payments for Japanese bank consortium

Ripple logo

SBI Ripple Asia has announced that a Japanese consortium of 15 banks in a new network will use Ripple’s blockchain technology for payments and settlement. Using Ripple, customers of the banks will get real-time domestic and cross-border payments, 365 days of the year. Initial participants include Bank of Yokohama and SBI Sumishin Net Bank (SBI […]