November 29, 2023

More than a third of the largest banks tested Ripple technology

More than a third of the largest banks tested Ripple technology

Leading financial conglomerates in America, France and Great Britain tested the technologyblockchain startup Ripple or invested in it. RBC Crypto writes about this.

At least 38 of the 100 largest banks in the worldtested, integrated, or invested in Ripple cross-border payment technology, according to XRPArcade. The largest of them is the Japanese holding Mitsubishi UFJ Financial Group, whose assets total more than $ 2.5 trillion.

Blockchain startup partners are also:

  • UK's largest financial conglomerate HSBC Holdings PLC affiliated with Ripple through SABB Bank
  • Bank of America collaborating through Merryl Lynch Investment Bank
  • French financial conglomerate Crédit Agricole as a customer.

The XRPArcade report emphasizes that in reality there may be more Ripple partner banks. The reason for this is the connection of companies with the blockchain startup through third-party organizations.

14 January Heath Tarbert, Chairman of the Commission onThe US Commodity Futures Trading Center (CFTC) said it does not consider the XRP cryptocurrency to be a security. According to him, the status of Ripple tokens remains uncertain when Bitcoin and Ethereum are clearly commodities.