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-Japanese bank consortium to use Ripple's technology for making payments

Mar 2, 2017 - Global Banking News

Global Banking News - 02 March 2017

A consortium of Japanese banks is planning to use distributed ledger technology to make domestic and international payments.

The 47-member consortium is to use the service of Google-based Ripple after completing a pilot programme for a cloud-based payments platform, RC Cloud. The platform allows member banks to carry out real-time money transfers in Japan, as well as make cross-border payments at a significantly lower cost.

Emi Yoshikawa, Rip

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