This Banking Giant Just Partnered with Ripple


For the first time in quite a long time, XRP seems to have embarked on an upswing.

By all accounts, this week's high is the highest figure recorded for XRP since the very start of September.

PNC's move to utilize blockchain technology to process global transfers comes amidst a widespread movement for banks and financial institutions to switch to blockchain in order to stay competitive, and to transition away from the inefficiencies that are inherent with the current settlement systems.

As was earlier reported by CNBC, Ripple made some hints about its new cryptocurrency product xRapid that would go live "in the next month or so".

In August of this year, Ripple was reportedly considering integration of xVia, xCurrent and xRapid into one solution named Convergence.

The first of the Ripple announcements is one that confirms the full scale of RippleNet's worldwide expansion. Ripple executives have been tirelessly globe-trotting pitching the benefits financial institutions, funds and even start-ups set to reap when they adopt Ripple solutions. "Transactions on RippleNet are instant and tracked end-to-end, allowing money to move across borders and into new markets without impediment".

Ripple also recently announced that its RippleNet has reached 40 countries with a focus on expanding the global remittance market and improving SME payments. More and more banks began to yen for the services of Ripple across the globe.

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PNC is one of the biggest banks in the country, pulling in a revenue of $16.32 billion past year.

This is exciting news as it really does highlight the full scale of Ripple's expansion. The bank will connect to other financial institutions around the world through RippleNet, Ripple's enterprise blockchain network.

"The addition of a top USA bank like PNC on RippleNet fuels the network's positive momentum". PNC Bank is considered one of the top ten banks in the United States. Countless of banks and other financial institutions have recognized its potential, partnering with it to enable a safe, easy and fast remittance corridor in a bid to satisfy their customers to the brim.

PNC Bank have more than 8 million customers across 19 branches in the United States.

The FinTech company stated that the bank's customers will be able to receive real-time cross-border payments.

Building on the news of the launch of Ripple's cryptocurrency product, PNC Bank - one of the 10 largest banks in the USA - announced that it has joined RippleNet to facilitate cross-border payments for its customers using Ripple's xCurrent product.

All together, this positive news from Ripple is having a good impact on XRP and moreover, is bringing the Ripple community back together.


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