Ripple creates new partnership with Federal Bank of India

30 Mar, 2019
by David Borman
Ripple creates new partnership with Federal Bank of India

It has been reported by InvestInBlockchain that Ripple has signed a new deal with Federal Bank, one of India's leading banking institutions. The deal is to bring faster, cheaper cross border payments to all of Federal Bank's customers.

In an official release, the Federal Bank Secretarial Department announced:

"This is to inform Federal Bank has entered into a partnership with Ripple Inc, a blockchain supported global remittance company, for cross border remittance through its network. Powered by blockchain-enabled solution, the Ripple platform ensures cross-border transactions much safer and secured."

The partnership should make it possible for Federal Bank customers to send money across borders not only safely and quickly, but cheaply as well.

Federal Bank has a customer base of roughly 8 million people, so this is by no means a small measure. With any luck, this will bring Ripple one step closer to mass adoption.

Read more: SBI partners with 13 banks for Ripple-powered mobile app

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Read more about: Ripple (XRP) India


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