How one of the world’s largest banks is turning to Ripple again

Neutral How one of the world’s largest banks is turning to Ripple again

One of the largest banks in the world is set to utilise Ripple, as it turns to cryptocurrency for a new payment service that has just been announced.

The MUFG Bank, that describes itself - accurately - as 'Japan's premier bank' (and just happens to be one of the ten largest banks worldwide as well), has revealed that it's signed a memorandum of understanding with regards a new cross-border payment service. It's inked the deal with Latin American bank Banco Bradesco, and the two entities are joining forces for the service, that'll facilitate cross-border payments between Japan and Brazil.

What's more, Ripple is a key ingredient in the new deal. The payments system being worked is being developed by Ripple, and, as per the official announcement, "will assist the banks as they work towards commercializing a high-speed, transparent and traceable cross-border payments system".

This an extension of an existing agreement between the two banks, incidentally, that have a history of working together.

It's also a doubling down on Ripple interest too, something that MUFG has declared before.

What's not clear as of yet is just when the new payments service will be up and ready for action. But when it arrives, it'll further strengthen and solidify Ripple's reputation and standing in the financial industry, and give the crypto world a further foothold.

More news on the new service as we get it. You can find the full text of the official announcement right here, too.

Image: BigStock

11/12/2018 / 05:31:45 Source: cryptonewsreview

Crypto | News | Banco Bradesco | MUFG | ripple | | XRP|Fiat
BTC
1 BTC=$3,715.40
XRP
1 XRP=$0.3574
ETH
1 ETH=$102.13
XUC
1 XUC=$2.27
EOS
1 EOS=$2.68
BCH
1 BCH=$103.11

News Feed 50

Cryptoglobe Neutral - Coinbase Pro Supports a 2nd Stablecoin (DAI, MKR), Golem (GNT), Zilliqa (ZIL) read more.
12/19/2018 / 00:32:00
Ccn Neutral - Coinbase Pro Adds Another Four Ethereum Tokens Including DAI read more.
12/19/2018 / 00:22:33
Bitcoin.Com Neutral - Only Sharks Will Feed on the Crypto Market’s Elusive Price Bottom read more.
12/18/2018 / 23:55:17
Cointelegraph Neutral - Spanish Renewable Energy Operator to Trace Electricity Generation With Blockchain read more.
12/18/2018 / 23:45:00
Bitcoinmagazine Neutral - Pierre Rochard: “Lightning Adoption Will Basically Mirror Bitcoin Adoption” read more.
12/18/2018 / 23:34:48
Cryptonewsreview Neutral - Bitmain’s problems mount as crypto declines cast doubt on IPO plans read more.
12/18/2018 / 23:31:15
Ccn Neutral - Swiss Federal Council Opts for Minimal Regulation read more.
12/18/2018 / 23:22:03
Coindesk Neutral - Institutional Crypto and a New Generation of Wall Street Leaders read more.
12/18/2018 / 23:15:08
Cointelegraph Neutral - JPMorgan Chase Analysts Say Prolonged Crypto Bear Market Is Scaring Off Institutions read more.
12/18/2018 / 23:15:00
Themerkle Neutral - Darknet Vendors Charge $1 per Stolen Personal Data “Account” read more.
12/18/2018 / 23:07:56
Cointelegraph Neutral - Bitcoin Payment Processor Closes Seed Investment Round Backed by Tim Draper read more.
12/18/2018 / 22:40:00
Coindesk Neutral - Blythe Masters, CEO of Blockchain Startup Digital Asset, Is Stepping Down read more.
12/18/2018 / 22:31:14
Ccn Neutral - Wanchain 3.0 Adds Loopring Enabling On-Chain Decentralized Trading read more.
12/18/2018 / 22:19:57
Bitcoinist Neutral - Binance CEO Says ‘It Doesn’t Have to Be a Competition’ With Coinbase read more.
12/18/2018 / 22:00:09
Cointelegraph Neutral - Gaming Giant Atari to Launch ‘Blockchain Versions’ of Two Popular Games read more.
12/18/2018 / 22:00:00
Coinspeaker Neutral - Maltese Blockchain Bank Set to Start Operations by Mid-2019 read more.
12/18/2018 / 21:59:43
Cointelegraph Neutral - Russian Region Conducts Blockchain Election With 40K Participants read more.
12/18/2018 / 21:45:00
Newsbtc Neutral - Bitcoin Is Here to Stay: Blockstream Satellite Expansion Makes Sure of It read more.
12/18/2018 / 21:30:37
Cointelegraph Neutral - Pro-Bitcoin Official in the White House: What We Know About Trump’s New Chief Of Staff read more.
12/18/2018 / 21:20:00
Ccn Neutral - Binance Labs Launches 8 Blockchain Startups read more.
12/18/2018 / 21:16:31
Newsbtc Neutral - Novogratz: Interest Left Crypto for Macro, But Bitcoin Will Emerge As Store of Value read more.
12/18/2018 / 21:02:27
Bitcoin.Com Neutral - Cointext Rolls Out Mobile BCH Services in Bangladesh, Now Services 38 Countries read more.
12/18/2018 / 20:55:03
Cointelegraph Neutral - Korean Gov’t Pilots Blockchain for Logistics Innovation in Country’s Largest Port read more.
12/18/2018 / 20:54:00
Cryptoinsider Neutral - VeChain: Supply chain management protocol for counterfeit prevention read more.
12/18/2018 / 20:43:28
Coindesk Neutral - Overstock’s Medici Acquires Digital Tokens Representing Startup Equity Shares read more.
12/18/2018 / 20:41:31
Ccn Neutral - Bull Gone: Bitcoin Price Forming Doji to Signal Potential Trend Reversal read more.
12/18/2018 / 20:21:38
Themerkle Positive - Bitcoin Cash Price Rises to $100 And Overtakes Litecoin read more.
12/18/2018 / 20:00:51
Newsbtc Neutral - Bitcoin Sustains Above $3,500 After Widespread Market Rally read more.
12/18/2018 / 20:00:36
Coindesk Neutral - Tim Draper Invests $1.25 Million in Bitcoin Payments Processor OpenNode read more.
12/18/2018 / 20:00:06
Cryptoglobe Neutral - The Week: Stablecoin Basis Folds, Revolut Wins Banking License, Swiss Crypto Exchange Launching read more.
12/18/2018 / 20:00:00
Ccn Neutral - Stablecoin Company Tether Ltd. Made $6.6 Million in Interest from January to July 2018, Report Does Not Confirm Full Cash Reserves read more.
12/18/2018 / 19:23:04
Ethnews.Com Neutral - German Bank Tests Blockchain For Development In Africa read more.
12/18/2018 / 19:09:38
Themerkle Neutral - First Major Christmas 2018 Crypto Scam Targets Basic Attention Token read more.
12/18/2018 / 19:02:37
Bitcoinist Neutral - Blockstream Satellite Now Means Most Of The World Can Use Bitcoin Without Internet read more.
12/18/2018 / 19:00:09
Cryptoglobe Neutral - Iran Minister Indicates Support for Blockchain, Both Public and Private Uses read more.
12/18/2018 / 19:00:00
Ccn Neutral - Atari Partners With Startup to Make Blockchain Versions of Popular Titles like Roller Coaster Tycoon read more.
12/18/2018 / 18:56:55
Cointelegraph Neutral - Israel: Financial Services Firm GMT Joins RippleNet read more.
12/18/2018 / 18:52:00
Ethnews.Com Neutral - Reports Indicate Tether Has Held Adequate Reserves read more.
12/18/2018 / 18:43:43
Cryptopotato Neutral - EOS Block Producers Are in Risk of Bankruptcy Despite The Recent 25% Price Gain read more.
12/18/2018 / 18:34:32
Newsbtc Negative - Bitcoin Scam Alert: Criminals Demand BTC Payment to Call Off Hit Man read more.
12/18/2018 / 18:30:39
Ccn Neutral - Education The Biggest Barrier Preventing Online Investors From Purchasing Cryptocurrency read more.
12/18/2018 / 18:23:47
Cointelegraph Neutral - Belgium's Financial Watchdog Updates Crypto Scam Blacklist to Total 113 Sites read more.
12/18/2018 / 18:22:00
Cryptoglobe Neutral - BitMEX Trading Volume Way Down After Supports Broken read more.
12/18/2018 / 18:00:00
Coinspeaker Neutral - 550,000+ Hotels in 210 Countries Can Now be Booked with XRP read more.
12/18/2018 / 17:59:51
Cointelegraph Neutral - A Year After $20K, Blockchain Capital Exec Says Investors Will Regret Not Buying in Now read more.
12/18/2018 / 17:59:00
Themerkle Neutral - Institutional Investors No Longer Interested in Bitcoin: JP Morgan read more.
12/18/2018 / 17:41:35
Blokt Neutral - Japan’s New Crypto Regulation Draft Report Is Ready read more.
12/18/2018 / 17:29:23
Trustnodes Neutral - ICOs Now Trading on Exchanges With Investors’ ETH read more.
12/18/2018 / 17:28:21
Coinnounce Neutral - Bitcoin institutional adoption rising: BTC price analysis read more.
12/18/2018 / 17:24:41
Newsbtc Neutral - Electricity Consumption of Bitcoin is a Non-Issue: Solar Energy is Free in Some Regions read more.
12/18/2018 / 17:01:42
Negative
4.1%
Neutral
94.5%
Positive
1.1%
Mixed
0.2%

Latest comments:

4 min
Hey Sam, how is it going? But I must explain to you how all this mistaken idea of denouncing of a pleasure and praising pain was born
3 min
Pretty good. Doing my homework.. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because
2 min
Any chance to go out? To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage
2 min
.. Maybe 40-50 mins. I don't know exactly. On the other hand, we denounce with righteous indignation and dislike men who are so beguiled
1 min
Anyway sounds great! These cases are perfectly simple and easy to distinguish.