10 Jan '18, 4pm

Ripple: XRP Firm in Talks with Singapore

Ripple: XRP Firm in Talks with Singapore

Ripple is in talks with Singapore’s financial centre to develop the use of blockchain technology in cross-border transactions. Ripple, negotiating with the Monetary Authority of Singapore (MAS), hopes its technology will be used as part of the MAS’ experiment into the effectiveness of blockchains for cross-border payments. The company, which set up an office in Singapore in September, is looking to target South-East Asia which, with high remittance demands, could be a place of great expansion. Cross-border payments have historically been risky business. As well as an expensive process – the cost often being passed down to clients – banks have been unable to properly track them, effectively having to wait for confirmation from the recipient to know the transfer has been successful. However, the technology Ripple is offering will shorten such transfers from days to a matter ...

Full article: https://themarketmogul.com/ripple-singapore/

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