CandleFocus Indian Banks Trial Ripple’s XRP for Faster and Safer Bank Transfers
2024-10-28
Author: Content Editor
Several Indian banks are piloting Ripple's XRP Ledger to improve bank-to-bank transfers in the country. The trials aim to create a more efficient and secure transaction system, and Ripple's collaboration with major institutions like Kotak Mahindra could reshape how Indian banks handle money payments. RippleNet's network is also expanding across India with banks like Axis Bank and Yes Bank, and they are exploring Ripple's On-Demand Liquidity service to improve overseas settlements. While Ripple's technology supports international transactions, Indian banks are also advancing the Digital Rupee project led by the Reserve Bank of India to establish a more accessible digital currency system. Ripple is building partnerships with central banks worldwide, but it is facing challenges in the US due to an active lawsuit with the SEC.
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