RippleNet expands into emerging markets

Additional 5 international financial institutions have joined Ripple
21 February 2018   255

Banks from Brazil (Itau Unibanco) and India (IndusInd) along with remittance providers from Singapore (InstaReM), Brazil (Beetech) and Canada (Zip Remit) joined the ranks of members of the enterprise blockchain solution for global payments. This announcement with an earlier partnership with China (Lianlian) brings Ripple even closer to the so called 'emerging markets'. With the partners base of more than 100 organizations worldwide, Ripple allows its members access and exchange payment information between each other and finalize the transactions in an instant.

We are pleased to partner with Ripple. Now, RippleNet members will be able to process a large number of payouts in Southeast Asian countries through InstaReM’s secure rails.


Prajit Nanu

Co-founder and CEO, InstaReM

On top of that, with the application of a blockchain technology the costs of transactions and the transfer times get drastically decreased. It is reported that IndusInd and InstaRem will use Ripple's xCurrent platform to improve cross-border payments to other financial institutions globally; and Beetech with Zip Remit will use xVia to deal with global payments for their respective customers.

The payments problem is a global problem, but its negative impact disproportionally affects emerging markets. Whether it’s a teacher in the U.S. sending money home to his family in Brazil or a small business owner in India trying to move money to open up a second store in another country, it’s imperative that we connect the world’s financial institutions into a payments system that works for their customers, not against them.


Patrick Griffin

Head of business development, Ripple

Blockchain roundtable organized in Japan

Japan`s regulator, Financial Services Agency (FSA) has opened some details of the closed-doors roundtable
21 March 2018   108

This meeting was arranged for regulators and central banks from many countries and it was connected with a wide multilateral joint research project on blockchain technology. The private conference was held on March 8 and 9, then FSA confirmed its report on Monday.

The financial regulators and central banks from a number of countries met Japanese and foreign academic institutions at the FSA-hosted roundtable. The representatives of the central banks of Singapore, Canada and Japan faced the financial regulators from the UK, France, Abu Dhabi, Hong Kong and the Australian security regulator. They discussed their points of view on the possibilities and disadvantages of the public (open) blockchain technology.

The FSA declared that the roundtable should definitely reveal the blockchain`s peculiar risks and opportunities. Also this financial regulator constantly researches possible weak spots of the public blockchain technology, relevant questions of its security and technical perspectives.

The list of subjects which were discussed at the roundtable includes the “Blockchain innovation and responsible user protection”, “Potential of blockchain”, “Blockchain tests and use cases - jurisdictional Proof of Concept” among others.

The FSA added that despite many details of the closed-door discussion stay under wraps, some common positions and challenges may be shared with the public while agreed upon by all the participants.

The banking market in Japan is aimed to be the largest consumer-end implementation of blockchain tech through a consumer payments application powered by Ripple. Therefore the largest central banks in the world were told cryptocurrencies “do not pose risks to global financial stability” during the ongoing G20 summit in Argentina by the international Financial Stability Board.