26 May 2017
Find out more

BBVA runs live funds transfers over Ripple

21 April 2017  |  15744 views  |  0 BBVA

BBVA has run its first live cross-border transaction using the Ripple protocol.

The funds transfers between Spain and Mexico cut transaction times from four days to a matter of seconds.

Alicia Pertusa, head of digital transformation in investment banking at BBVA, says: “This pioneer initiative is a clear demonstration of how payment processes can be vastly improved through the implementation of emerging technologies. These improvements will benefit our clients’ transactionality."

Shorter clearing times are just one of the benefits, she adds, pointing to the ability to provide clients with more details about costs and a transparent view of payments progress.

A member of the R3 consortium, the Ethereum Enterprise Alliance and Hyperledger, BBVA is currently running several pilot projects to explore tha application of distributed ledger in multiple use cases across the bank.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

After trashing Swift gpi, Ripple hires its biz director

After trashing Swift gpi, Ripple hires its biz director

13 April 2017  |  12145 views  |  1 comments | 10 tweets | 7 linkedin
Ripple lands first Middle Eastern bank

Ripple lands first Middle Eastern bank

01 February 2017  |  15653 views  |  0 comments | 16 tweets | 10 linkedin
Axis Bank ties up with Ripple for cross-border remittances

Axis Bank ties up with Ripple for cross-border remittances

10 January 2017  |  5642 views  |  0 comments | 11 tweets | 8 linkedin
Global banks and R3 test DLT for KYC services

Global banks and R3 test DLT for KYC services

10 November 2016  |  8463 views  |  0 comments | 22 tweets | 22 linkedin
SEB to build Ripple-flavoured blockchain payments network

SEB to build Ripple-flavoured blockchain payments network

07 November 2016  |  10423 views  |  1 comments | 13 tweets | 14 linkedin
Banks test Ripple digital asset for cross-border payments

Banks test Ripple digital asset for cross-border payments

20 October 2016  |  7678 views  |  0 comments | 10 tweets | 10 linkedin
Ripple rudely gatecrashes Sibos party

Ripple rudely gatecrashes Sibos party

28 September 2016  |  17518 views  |  3 comments | 47 tweets | 39 linkedin
Swift beware: Ripple signs banks to global payments steering group

Swift beware: Ripple signs banks to global payments steering group

23 September 2016  |  13737 views  |  0 comments | 36 tweets | 18 linkedin
Ripple scores $55 million funding round; adds new bank members

Ripple scores $55 million funding round; adds new bank members

15 September 2016  |  9013 views  |  0 comments | 20 tweets | 20 linkedin
Japanese bank consortium to build new payments network with SBI Ripple Asia

Japanese bank consortium to build new payments network with SBI Ripple Asia

23 August 2016  |  10088 views  |  0 comments | 24 tweets | 19 linkedin
Banks embrace Ripple and move beyond testing to real-world transactions

Banks embrace Ripple and move beyond testing to real-world transactions

22 June 2016  |  13358 views  |  0 comments | 39 tweets | 38 linkedin
Santander taps Ripple blockchain tech for international payments app

Santander taps Ripple blockchain tech for international payments app

26 May 2016  |  14867 views  |  0 comments | 36 tweets | 43 linkedin
Ripple opens London office to serve European demand

Ripple opens London office to serve European demand

21 March 2016  |  12958 views  |  1 comments | 20 tweets | 4 linkedin
RBC tests distributed ledger for remittances and loyalty programme

RBC tests distributed ledger for remittances and loyalty programme

26 February 2016  |  13571 views  |  0 comments | 20 tweets | 24 linkedin
Ripple boasts it can slash banks' global settlement costs

Ripple boasts it can slash banks' global settlement costs

23 February 2016  |  7016 views  |  0 comments | 3 tweets | 5 linkedin
Smart contracts set to transform financial services - BBVA

Smart contracts set to transform financial services - BBVA

21 October 2015  |  8558 views  |  1 comments | 16 tweets | 15 linkedin
Santander InnoVentures joins Ripple funding round

Santander InnoVentures joins Ripple funding round

06 October 2015  |  8590 views  |  1 comments | 31 tweets | 19 linkedin
Blockchain and bond market trading win out in BBVA London startup contest

Blockchain and bond market trading win out in BBVA London startup contest

24 September 2015  |  13104 views  |  1 comments | 28 tweets | 22 linkedin
Blockchain poised to become banking's biggest disruptor yet - BBVA Compass economists

Blockchain poised to become banking's biggest disruptor yet - BBVA Compass economists

11 August 2015  |  25161 views  |  1 comments | 66 tweets | 33 linkedin
CBA to test Ripple for intra-bank transfers

CBA to test Ripple for intra-bank transfers

27 May 2015  |  14405 views  |  2 comments | 27 tweets | 22 linkedin
BBVA Compass partners Dwolla for real-time payments

BBVA Compass partners Dwolla for real-time payments

08 April 2015  |  9293 views  |  2 comments | 17 tweets | 6 linkedin
Ripple signs first two US banks

Ripple signs first two US banks

24 September 2014  |  13610 views  |  5 comments | 18 tweets | 10 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit dh.comvisit www.ebaday.comvisit www.response.ncr.com

Top topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
11841 views comments | 49 tweets | 77 linkedin
Bank/fintech collaboration can take transaction banking to new heightsBank/fintech collaboration can take transa...
7296 views comments | 12 tweets | 24 linkedin
TransferWise launches multi-currency business bank accountsTransferWise launches multi-currency busin...
6078 views comments | 12 tweets | 20 linkedin
Enterprise Ethereum Alliance triples in sizeEnterprise Ethereum Alliance triples in si...
6002 views comments | 15 tweets | 17 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job