July 24, 2024

Vietnamese bank TPBank joins RippleNet payment network

Vietnamese bank TPBank (Tien Phong Commercial Bank) has joined the RippleNet payment network for fasterinternational payments.

TPBank will be the first Vietnamese bank touses blockchain for international transfers. As TPBank representatives emphasized, clients will be able to transfer funds from Japan to Vietnam in “a few minutes” instead of several hours. In the near future, payments from South Korea will also be processed through RippleNet.

The RippleNet payment network already includes more than 200financial organizations from all over the world. RippleNet allows participants to exchange payments almost instantly and with lower fees than traditional bank transfers. In February of this year, the second largest bank in Oman, BankDhofar, joined the RippleNet network.