47 Bank to Use Ripple Infrastructure in Japan

47 Bank to Use Ripple Infrastructure in Japan
47 Bank to Use Ripple Infrastructure in Japan

Japanese Bank yesterday morning A report allegedly issued by the Consortium fell on the agenda like a bomb.

According to AMBCrypto Ripple investors h The issuers set up a partnership to integrate Ripple infrastructure into the infrastructure of 47 banks in Japan.

According to some analysts, earlier this week, SBI Ripple Asia put three new schemes in place to ease the use of Ripple in the field of public banking. Thanks to Ripple Interleder Protocol (ILP) enabling transactions to take place in 0.25 seconds. This high speed will offer new opportunities for banks that want to use the Ripple infrastructure even on the international arena.

In December 2017, Ripple became the second most valuable crypto currency in the world, after deciding to use Ripple in a pilot program to improve cross-border payments and transactions from Japan and South Korea.

In the meantime, Ripple CEO Brad Garlinghouse said:

In 2017, crypto was the year of the money. Ripple (XRP) performed better than all other digital assets, which is why it is realized that XRP is a productive crypto currency that provides solutions to real life problems.

Obviously, although the efficiency of the Ripple infrastructure is extremely important for banks and investors, such developments are the most important reason for the increase in Ripple investments.

Also yesterday, South Korea reportedly completed a cross-border wire transfer test using the Woori Bank’s International Cooperation Program; but there are no reports on how long these transactions lasted, and it is known that nearly 60 Japanese banks followed the tests closely .

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