Cryptocurrency Derivatives Series: HEDG Token Sinks After Bittrex Rolls-out HedgeTrade, Recovery Likely Despite Brief Halting
Stable-Coin Series: After French Hurdle, German’s Finance Ministry Becomes Tormentor For Facebook’s ‘Libra’
Cryptocurrency Derivatives Series: Just 3-Days Away From Bakkt’s BTC Futures Launch, Spot on Some Key Intricacies
Crypto Technicals: TRON (TRX) breaks 21-EMA resistance, rising volatility and bullish divergence to ensure upside continuation
Crypto Technicals: ETH/USD retreats from 6-week highs at 217.49, close below 200-DMA to see further weakness
Cryptocurrency Derivatives Series: eToroX’s Lira To Support Crypto-Derivatives With Liquidity Providing
Digital Currency/Stablecoin/Tokenization Series: Trending Mobile-Phone Makers Interests In Blockchain Phones
Digital Currency/Stablecoin/Tokenization Series: Is Coinbase racing-up with IEO and STO Platforms to take on Binance?
Digital Currency Revolution Series: BITMAX Cryptocurrency Exchange Unveils on Japanese Messenger Line
Cryptocurrency Derivatives Series: Despite Various Counterparts, CME Still The Front-Runner In Cryptocurrency Derivatives Marketplace
SEB signs agreement with Ripple to use blockchain for payment transactions
SEB, a Swedish private banking company, has announced that it has signed an agreement with distributed ledger technology provider Ripple, in order to use Ripple's blockchain solution for payment transactions.
The announcement said that the collaboration will enable SEB to pilot the Ripple-developed blockchain and the initial step will enable customers to make real-time transfers between SEB accounts in Stockholm and New York. SEB verified that the solution is compatible with the bank's infrastructure and it is on the move to build a complete payment solution.
“This is a way to explore the potential of new technologies and an example of how we, by working with innovative technology companies, can be even more relevant to our customers,” Paula da Silva, head of Transaction Services at SEB, said. “In the next step, we plan to expand the solution to include all geographies and time zones in which we operate.”
The company has planned the first customer transactions for the next year and will be offering real-time transfers with later cut-off times than today.
“By using Ripple's distributed financial technology, our customers can initiate real-time transfers between their SEB accounts in Sweden and the bank’s branch in New York,” Silva added.
SEB has been a part of Distributed Ledger Group along with over 50 international banks to develop common standards for the distributed ledger technology. The bank made an investment in Coinfiy, a Danish fintech company through its venture capital unit in August this year.