Federal Bank partners with Ripple for cross-border remittances

KOCHI: Federal Bank has entered into a partnership with Ripple Inc, a blockchain supported global remittance company, for cross border remittance through its network, according to a Federal Bank regulatory filing at the stock markets.

“Powered by blockchain-enabled solution, the Ripple platform ensures cross-border transactions much safer and secured. This partnership will help Federal Bank to explore new corridors where Ripple is aggressively pursuing new partnerships,” said the statement.

In a meeting held on Thursday (March 28), Shyam Srinivasan, Federal Bank MD & CEO and John Mitchell, Senior Vice President Ripple Inc, signed the agreements for the partnership.

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