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PNC used as the first US Bank Ripple

The U.S. PNC now uses the Ripple to transport the System around the crypto-currency XRP in order to payments. By Phillip Horch On 29. August 2019 BTC$9.445,28

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PNC used as the first US Bank Ripple

The U.S. PNC now uses the Ripple to transport the System around the crypto-currency XRP in order to payments.

By Phillip Horch
On 29. August 2019 BTC$9.445,28 -7.22% part Facebook Twitter LinkedIn xing mail

Ripple wants to provide you with the RippleNet and the crypto-currency, XRP is a solution for the international, cross-border payment traffic. With PNC's Treasury Management, the company now gets, according to its own information, the first U.S. banking partner that uses the Blockchain solution.

Ripple aims to improve payment transactions

The PNC Treasury Management, financial service provider from the U.S. state of Pennsylvania, is in the future, use the Ripple-technology to make in order for cross-border payments. According to a report from the Fintech Futures shows that PNC is the first U.S. Bank, the lead international payments made via the RippleNet in real-time. International partners should have the opportunity to optimize their payment transactions.

PNC had adopted his plans, to use in the future, the RippleNet, already in September 2018.

Ripple, XRP and XRapid

in Principle, the distinction applies: Ripple is the company, XRP, the corresponding crypto-currency. The management is not tired to emphasize the difference or the distinction between company and XRP. The product XRapid does, however, correspond approximately to the Blockchain in Bitcoin – it provides the technological backbone. This XRapid promises full transparency. Because the design of the Ledger allows transactions to track. Payments, so the further promise behind XRapid, immediately and 24/7 to take place. DasRipple network with the XRP Token is in direct competition to the payment service provider SWIFT.

The crypto-currency, XRP self-works in this System mainly as a bridge between various currencies. So who wants to send in international traffic of money, it can carry about XRP from A to B. In addition, it has the function to prevent any Spam in the network, what is the reason for this is that for each transaction a certain amount of XRP is consumed.

The RippleNet

The RippleNet, the member of the PNC is to be understood, however, as a global payment network. According to official data, it consists of over 200 banks and payment providers in the world. These include, among other things, Santander, MoneyGram, Transfer Go, or the MUFG Bank.

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