Ripple Signs New Deal With Federal Bank of India to Improve Cross-Border Payment Services

Ripple, one of the most popular companies in the cryptocurrency space, has signed a deal with Federal Bank, one of the leading banking institutions in India. The goal behind this partnership is to improve cross-border payment services. The information was released by the Federal Bank on March 28. This is one of the many different institutions working with Ripple’s solutions. Federal Bank and Ripple Partner to Improve Cross-Border Services. The Bombay Stock Exchange (BSE) explained how the bank is going to be using blockchain technology and improve blockchain remittances. The new partnership will help Federal Bank to explore new corridors where Ripple is searching for new partners. The agreement was signed by Mr. Shyam Srinivasan, Federal Bank MD & CEO and Mr. John Mitchell, Senior Vice President at Ripple Inc. As per the announcement, Ripple’s platform ensures cross-border transactions much safer and secure. The bank has a customer base of over 8 million individuals. The bank has also been working on blockchain solutions for remittances.