Published on November 22nd, 2017 | by bitcoin0
Standard authorized, Axis Launch Payments account With Ripple Tech
Financial institutions Standard Chartered and Axis Bank have announced a new cross-border payments platform built on top of technology developed by Ripple.
Unveiled today, the platform – which will connect corporates between Singapore and India – will be accessible through Standard Chartered’s Straight2Bank system.
According to SC’s release, the platform will allow users to see all fees up front, pre-validate transactions and thereby more quickly settle them.
Reports in March indicated that multiple banks, including Standard Chartered, have plans to launch a similar system across several countries next year.
A spokesperson for the startup confirmed that SC and Axis are not using XRP to facilitate transactions between Singapore and India.