10 Jan '18, 9am

Ripple is Getting Ready to Use its Blockchain Technology in Singapore

“But Ripple is also trying to sell its cryptocurrency XRP as a means of settlement when a bank wants to move money into a country but does not have a local-currency account held in a local bank there. As Mr Garlinghouse explained, Ripple aims to have XRP used for such cross-border payments, so that a bank can sell, for example, the greenback, into XRP in seconds, and convert XRP into another currency, say Sing-dollars, quickly. Banks hold capital and collateral against settlement risks, so a reduction in settlement time would translate to huge savings in the trillions, said Mr Garlinghouse.”

Full article: https://ripplenews.tech/2018/01/10/ripple-getting-ready-u...

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