January 31, 2023

Vietnamese bank TPBank joins RippleNet payment network

Vietnam's TPBank (Tien Phong Commercial Bank) joins RippleNet to make faster international payments.

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

The RippleNet payment network includes more than 200financial institutions from around the world. RippleNet allows participants to exchange payments almost instantly and with lower fees than with conventional bank transfers. In February this year, the second capitalization bank of Oman BankDhofar joined the RippleNet network.