Ripple's xRapid approved by Spanish banking giant BBVA

BBVA CEO is hopeful about Ripple after the bank reported a series of tests with the platform resulted in a success
15 March 2018   693

BBVA, a behemoth in Spanish banking world reported to have successfully tested Ripple's DLT to make real money transfers. The tests concerned cross-border transactions within the territories of Europe and South America. These areas were carefully selected as BBVA has the most presence exactly in those countries. BBVA officials have claimed money transfer was without any particular issues and the operation completed rapid fast.

Mainly, BBVA is interested in innovation in cross-border payments, especially given its footprint in Europe, Mexico, USA and Latam. BBVA is an active participant in several initiatives in cross-border payments (and other areas where blockchain could be applicable) and in that context, did a project with Ripple in 2017 in order to glean learnings on the efficacy of cross-border payments in various contexts using money, not cryptocurrency. It also has carried a series of tests with blockchain consortia R3, Hyperledger and Ethereum Entreprise Alliance in order to get insights into the use of blockchain in the financial services sector.

 

Spokesperson, BBVA

The news was warmly welcomed by South American nations as the platform poses potential long-awaited renovation of the local financial infrastructure. The dramatic condition of the current infrastructure of the region yields up to a 3-4 day delay of bank transfers.

We think something really big is happening in this sector, and we want to be at the forefront. A successful string of moves can possibly catapult BBVA into the public eye within the US financial services sector.

 

Onur Genç

CEO, BBVA Compass

Ripple has recently gained a significant backup of the respected financial institutions like MoneyGram, Western Union, Fleetcor and now - BBVA.

Ledger Live to be Released

Ledger Live is a complex application that combines the functions of managing a hardware device and digital assets
10 July 2018   232

On Monday, July 9, the release of new software for hardware bitcoin wallets Ledger Nano S and Ledger Blue under the name Ledger Live with support for Windows, Mac and Linux operating systems.

According to the developers, Ledger Live is a complex application that combines the functions of managing a hardware device and digital assets. The new software has replaced many browser extensions based on Chromium.

Installing a new device and connecting an existing account to Ledger Live takes place as quickly as possible. Simultaneously, all crypto-currencies are now available in one account, which eliminates the need for users to use different applications for Bitcoin, Ethereum or Ripple.

It is noteworthy that the user interface provides data on the cost of all crypto assets in real time, and also displays the status of transactions.

The first version of Ledger Live does not support ERC-20 tokens, but the developers have already promised to add this option in the next releases.