11 December 2017
visit www.solutions.lexisnexis.com

SBI Ripple Asia advances on South Korea

19 September 2017  |  15654 views  |  0 Tokyo

Ripple is to work with financial institutions in South Korea to enable blockchain-based cross-border payments transfers with Japanese banks.

Less than a year ago, SBI Ripple Asia announced the creation of a Japanese consortium of banks who will use Ripple’s technology for domestic payments and settlement. By July, the consortium had grown to 61 banks, including mega-banks Sumitomo Mitsui Banking Corporation (SMBC), MUFG and Mizuho.

An international perspective now comes in the form of a partnership agreement with Dayli Intelligence, a subsidiary of Dayli Financial Group, which has previously acted with South Korea’s first blockchain consortium as well as the Ministry of Science and ICT.

SBI Ripple Asia says the collaboration will seek to facilitate instant cross-border payments between customers in Japan and South Korea, as well as other global markets, enabling round-the-clock settlement at reduced costs.

Takashi Okita, CEO of SBI Ripple Asia, says: “South Korea is one of the most active markets worldwide when it comes to blockchain innovation and trading of digital assets. With trade flows into and out of the country totaling $960 billion every year, we also see a high and growing demand for Ripple’s frictionless payments solution in the country.”

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

Ripple and R3 trade blows in legal dispute

Ripple and R3 trade blows in legal dispute

11 September 2017  |  10968 views  |  1 comments | 4 tweets | 5 linkedin
Gloves come off as Ripple preps Toronto conference during Sibos

Gloves come off as Ripple preps Toronto conference during Sibos

24 August 2017  |  27523 views  |  4 comments | 20 tweets | 18 linkedin
BofE says Ripple PoC reinforces desire for DLT compatibility

BofE says Ripple PoC reinforces desire for DLT compatibility

10 July 2017  |  17471 views  |  0 comments | 16 tweets | 12 linkedin
SBI and Siam Commercial Bank open cross-border remittance rail using Ripple

SBI and Siam Commercial Bank open cross-border remittance rail using Ripple

30 June 2017  |  12175 views  |  0 comments | 13 tweets | 11 linkedin
BBVA runs live funds transfers over Ripple

BBVA runs live funds transfers over Ripple

21 April 2017  |  19015 views  |  0 comments | 35 tweets | 20 linkedin
After trashing Swift gpi, Ripple hires its biz director

After trashing Swift gpi, Ripple hires its biz director

13 April 2017  |  15360 views  |  1 comments | 10 tweets | 8 linkedin
Ripple lands first Middle Eastern bank

Ripple lands first Middle Eastern bank

01 February 2017  |  18456 views  |  0 comments | 17 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  |  6574 views  |  0 comments | 11 tweets | 8 linkedin
SEB to build Ripple-flavoured blockchain payments network

SEB to build Ripple-flavoured blockchain payments network

07 November 2016  |  11973 views  |  1 comments | 13 tweets | 14 linkedin
Japanese banks flock to blockchain consortium

Japanese banks flock to blockchain consortium

01 November 2016  |  14195 views  |  0 comments | 23 tweets | 15 linkedin
Banks test Ripple digital asset for cross-border payments

Banks test Ripple digital asset for cross-border payments

20 October 2016  |  9168 views  |  0 comments | 10 tweets | 10 linkedin
Ripple rudely gatecrashes Sibos party

Ripple rudely gatecrashes Sibos party

28 September 2016  |  20786 views  |  3 comments | 48 tweets | 39 linkedin
Ripple scores $55 million funding round; adds new bank members

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

15 September 2016  |  10190 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  |  11793 views  |  0 comments | 24 tweets | 19 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit http://info.nice.comvisit www.atos.netvisit www.response.ncr.com

Who is commenting?

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18419 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11333 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
7697 views comments | 15 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
6608 views comments | 8 tweets | 17 linkedin
Barclays, First Direct and Nationwide join FCA sandbox cohortBarclays, First Direct and Nationwide join...
6013 views comments | 5 tweets | 12 linkedin

Featured job

Find your next job